Ocean services provider DeepOcean takes 100% ownership of the pipeline repair and subsea intervention (PRSI Pool Services) contract with Equinor, formerly operated in a Joint Venture (JV) between DeepOcean and TechnipFMC. The transaction reinforces DeepOcean’s pipeline repair expertise with JV employees being transferred to DeepOcean.

Since 2007 DeepOcean and Technip Norway have cooperated on the pipeline repair subsea operations contract with Equinor and the pool members; first with TechnipFMC as contractor and DeepOcean as sub-contractor. In 2014, DeepOcean and TechnipFMC engaged in a framework agreement with Equinor for maintenance, operations, and emergency preparedness through a JV that proved to be very effective.

As part of a recent joint agreement with TechnipFMC, DeepOcean will take over the contract with Equinor for the remainder of the contract period. This will grant DeepOcean access to a significant portion of the expertise in this field as 26 employees in the JV will be integrated in DeepOcean.

“DeepOcean is very excited to expand our competence and capacity in this highly complex and specialised area. The technology involved is world leading and we are extremely proud of the accomplishments achieved. We look forward to supporting Equinor and the PRSI Pool members going forward”, says Olaf A. Hansen, Managing Director of DeepOcean Europe.

Equinor has operational responsibility for the world's most extensive subsea pipeline system for transportation of gas as the technical operator of the PRSI pool. The PRSI pool consists of over twenty energy companies that cover their offshore pipeline and power cable repair contingency via the pool.

About DeepOcean

DeepOcean is a world-leading ocean services provider, enabling energy transition and sustainable use of ocean resources, offering survey, engineering, project management, installation, maintenance, and recycling services for oil and gas, offshore renewables, deep sea minerals, and other ocean services.

Across the global offices, DeepOcean is a trusted independent solutions provider with highly skilled industry experts, using world-class fit-for-purpose tools and technology to drive cost-efficient and safe operations. The company delivers innovative engineering solutions focusing on remote and unmanned operations and digitally-enabled services while continuously striving to lower the carbon footprint.

DeepOcean is owned by Triton, a leading European mid-market sector-specialist investor. As an active owner, Triton supports its portfolio companies to reach their full potential and works closely with DeepOcean to drive value creation. Founded in 1997, Triton invests in businesses that provide important goods and services in the Business Services, Industrial Tech, Healthcare, and Consumer sectors.

About Equinor

Equinor is an international energy company committed to long-term value creation in a low-carbon future.
Our purpose is to turn natural resources into energy for people and progress for society. Equinor’s portfolio of projects encompasses oil and gas, renewables and low-carbon solutions, with an ambition of becoming a net-zero energy company by 2050. Headquartered in Stavanger (Norway), Equinor is the leading operator on the Norwegian continental shelf. We are present in around 30 countries worldwide.