Fugro – Shelf Subsea Deal Falls Through

Fugro said it has decided to no longer pursue the divestment of its subsea services business in Asia Pacific to Shelf Subsea.

Namely, in August this year, Fugro signed a deal with Shelf Subsea to sell its subsea services business in Asia Pacific, however, Furgo informed that the parties were unable to reach agreement on some closing conditions, following which Fugro has decided to no longer pursue the transaction.

As a result, Fugro will retain the vessels, ROVs, other equipment and personnel related to the business.

Fugro will not acquire an equity interest in Shelf Subsea, as was previously communicated. The subsea services activities in Asia Pacific will be incorporated in and reported as part of the Marine division (in the new divisional structure as of 2017).

The company added it will seek partnership opportunities to reduce its exposure to the larger vessels used for the installation and construction part of the business.

Share this article

Follow Subsea World News

Events>

<< Dec 2017 >>
MTWTFSS
27 28 29 30 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

Underwater Intervention 2018

UI 2018 will draw the industry’s leaders from across the country and around the globe to gather for 3 days of networking…

read more >

Future Energy Asia Exhibition & Conference (FEA) 2018

The transformation and development of Thailand is a major priority for the government which creates incredible business opportunities…

read more >

HYPACK 2018

This training event will offer instruction on the newest features of HYPACK® 2018 as well as comprehensive training for both novice…

read more >

European Gas Conference 2018

The European Gas Conference celebrated its tenth anniversary amid an air of increasing optimism following considerably shifting markets in the last few years…

read more >