HitecVision Buys Deep Sea Mooring from Odfjell Drilling

Odfjell Drilling has agreed to sell Deep Sea Mooring to HitecVision.

Deep Sea Mooring (DSM) was established by Odfjell Drilling in 2008. DSM has been developed from an in-house mooring service provider to one of three providers of mooring services to E&P companies and rig owners in Norway. The company offers rental equipment, pre-lay mooring solutions and ancillary services and serves the market through its locations in Mongstad and Kristiansund.

Simen Lieungh, CEO of Odfjell Drilling states: “ For 40 years Odfjell Drilling has been a pioneer in the offshore drilling industry with a proven track record of establishing and developing new businesses. We are proud of having developed Deep Sea mooring to a stage where it has a strong potential on a stand-alone basis. We believe in the future of the company, product and service portfolio and its competent and dedicated team of people. Under HitecVision’s ownership, Deep Sea Mooring can certainly become a potent player in the international mooring industry.

Gunnar Halvorsen, Senior Partner of HitecVision, comments: “We are impressed by the development of Deep Sea Mooring under Odfjell’s ownership, and are pleased to have been entrusted by Odfjell to become the new owners of the company.”

Deep Sea Mooring, being a niche supplier of critical services to the oil and gas companies, is typical of the sort of company HitecVision invests in. We have followed and invested in this segment before, and believe Deep Sea Mooring has great future potential. We look forward to working with the company’s management to develop it further.