The new company, known as Deep Sea Installation, will initially focus on servicing floating production, storage and offloading vessels. It aims to operate in Asia, West Africa and Europe.
“The FPSO market is growing fast, with $99 billion forecast to be spent on floating production systems between 2014 and 2018,” said Age Straume, chief executive of Deep Sea Mooring.
Stavanger-based HitecVision bought Deep Sea Mooring from rig contractor Odfjell Drilling last year.
