Sun European Partners’ affiliate buys ADTI
- Business & Finance
Sun European Partners, LLP has announced that one of its affiliates has acquired Applied Drilling Technology International Limited, an offshore integrated turnkey and project management business focused on well design, construction and completion services primarily in the UK North Sea.
The business was acquired from Transocean for an undisclosed value.
Established in the UK in 1991, ADTI has managed approximately 370 wells and 180 completions in Northwest Europe, with an emphasis on the UK Continental Shelf (UKCS). The company currently employs 84 highly skilled professionals and support staff, which allows its customers to completely outsource their offshore drilling and completion operations, while minimizing risks, adhering to the highest standards in QHSE and managing costs.
The company, based in Aberdeen, Scotland, operates its business through five segments: Turnkey Drilling, Turnkey Completion, Project Management, Decommissioning and Well Engineering Studies. The company maintains longstanding relationships with its customers which encompass operators of all sizes from majors to large independents to new entrants, including Hess, Tullow, Summit Petroleum, Premier, Sterling Resources, Ithaca Energy, GDF Suez and Xcite, among others.
Lionel de Posson, Vice President at Sun European Partners, said: “ADTI has deep knowledge of the UKCS market and has built an unrivalled and unique offering in turnkey solutions. The company has established a strong reputation in the market, underpinned by its best-in-class workforce who are all skilled operators in their specialist fields. ADTI is well positioned to take advantage of the positive market trends in the region and we look forward to working with the management team to explore further opportunities for growth in new products and geographies.”