4Subsea will support Subsea 7 in delivering advanced digital solutions to customers within Life of Field and Field Development contracts
Image: Subsea 7 has acquired 4Subsea. Photo: courtesy of QR9iudjz0/FreeImages.
UK-based subsea engineering, construction and services company Subsea 7 has acquired 4Subsea for undisclosed sum.
4Subsea is a major provider of technology and services, delivering key decision support to oil & gas and offshore wind operators worldwide. Functioning autonomously within Subsea 7, the company will maintain an independent brand and management team led by CEO Peter Jenkins.
The Norway-based services company will support Subsea 7 to deliver digital solutions to their customers within life of field and field development contracts and contribute to the ongoing digital transformation of Subsea 7’s business delivery.
4Subsea CEO Peter Jenkins said: “We are proud and happy to become a Subsea 7 company, as we regard this as an excellent opportunity to scale our technology and services to a larger market.
“We aim to combine our ability to deliver quick and targeted business value within well intervention, drilling, subsea operations, and offshore wind with Subsea 7’s strong position as a leading player within the subsea and renewables market.”
Initial priority will be to monitor operational data on Subsea 7 vessels
According to the companies, an earlier priority will be the monitoring of key operational data on Subsea 7 vessels, contributing to the digitalisation of its marine operations. By deploying advanced algorithms and artificial intelligence, 4Subsea is expected to deliver insights and decision support with digital twins to optimise the activities.
Subsea 7 alliances and strategy executive VP Stuart Fitzgerald said: “We regard the acquisition of 4Subsea as an important opportunity for Subsea 7 to expand its digital capability and offering.
“4Subsea digital insights will create value for Subsea 7 in both our services provided to customers, and to improve efficiency within our own operations and delivery.”
In July, Subsea 7 secured contract from Danish energy giant Ørsted to install inner array cables for Hornsea Two, the 1.38GW offshore wind farm, to be located off of the UK coast.
When operational in 2022, the wind farm will generate enough clean electricity to power 1.3 million UK households, surpassing its sister project Hornsea One, as the world’s largest offshore wind farm.