Technip to acquire majority Inocean stake

Inocean and Technip enter into a strategic cooperation agreement to further develop offshore floater engineering services for the Norwegian continental shelf and other offshore markets worldwide.

Technip has also agreed to acquire a majority stake in Inocean.

Inocean will provide Technip with regulatory competence within NORSOK standards and other relevant regulations.

“In addition, we will bring hull and naval architecture technology services, including early phase work, hereunder FEED studies, to provide services to the oil and gas market on the Norwegian continental shelf and other regions,” Inocean said in a release.

Jon Erik Borgen, CEO of Inocean, declared: “As a world leader in project management, engineering and construction for the energy industry, we think Technip will contribute to accelerating the development and capabilities of Inocean.

“Inocean will continue to operate as we do today, supporting new and existing clients with high-end design and engineering services,” says Jon Erik Borgen.