TechnipFMC, Island Offshore Join Forces in Riserless Well Intervention

Island Offshore's RLWI vessel Island Constructor (Illustration purpose only)

TechnipFMC has signed an agreement with Island Offshore to acquire 51% stake in Island Offshore Subsea.

Island Offshore Subsea provides riserless light well intervention (RLWI) project management and engineering services for plug & abandonment (P&A), riserless coiled tubing and well completion operations.

In connection with the acquisition of the controlling interest, TechnipFMC and Island Offshore will enter into a strategic cooperation agreement to deliver RLWI services on a worldwide basis, which will also include TechnipFMC’s RLWI capabilities.

Island Offshore Subsea will be rebranded and become the operating unit for TechnipFMC’s RLWI activities.

Morten Ulstein, chairman of the Island Offshore Group, said: “Over the years we have had a rewarding cooperation with TechnipFMC, and we now see that an even closer integration of our companies and services is right to further develop and strengthen our position within RLWI, both in Norway and internationally.”

Hallvard Hasselknippe, president of TechnipFMC’s Subsea business, added: “We are now able to deliver a complete range of RLWI services to markets, globally. Our current track record delivering RLWI services together with Island Offshore has significantly increased production from more than 500 subsea wells.”

Odd Strømsnes, vice president of Offshore Integrated Services at TechnipFMC, will be the managing director of Island Offshore Subsea, the company informed.

The agreement with TechnipFMC is subject to the satisfaction of certain closing conditions.

Share this article

Follow Subsea World News

Events>

<< May 2018 >>
MTWTFSS
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 1 2 3

Underwater Technology Conference

The Underwater Technology Conference has a well-known history of presenting highly competent speakers on current and important topics…

read more >

25th Anniversary International Caspian Oil & Gas Conference

In 2018, the largest oil and gas event in the Caspian Region – the Caspian Oil & Gas Exhibition and Conference Incorporating Refining…

read more >

OFFSHORE WIND – SUBSEA CHALLENGES AND OPPORTUNITIES

This event is organsied in collaboration with Norwegian Energy Partners, Norwegian Offshore Wind Cluster and Sparebanken Vest…

read more >

Future Oil & Gas 2018

Senior executives from oil and gas operators, service providers, contractors and related suppliers, technology innovators and industry experts…

read more >