Norway: CSS Buys Isotek
Norway's subsea pipeline repair and tie-in solutions provider Connector Subsea Solutions (CSS) has completed the acquisition fo Isotek Oil and Gas for an undisclosed fee.
CSS said the purchase would bring Isotek’s remote welding technology to its existing range of subsea pipeline repair capabilities which are primarily focused on mechanical clamp and connector pipe joining solutions.
"The deal strengthens CSS’s position as a complete solutions provider for critical offshore connections and is part of a strategic drive to meet growing industry demand for technologies which offer lighter, smaller and more reliable pipeline repair methodologies for complex subsea and remote intervention. Remote subsea welding is seen as a key link into future operational scenarios for tie-ins, repair, hot-tapping, Emergency Pipelines Repair Systems, and in particular, larger diameter pipeline applications," CSS said.
The Isotek workforce which numbers 15 people is transferring over to CSS with immediate effect.
Ivar Hanson, Chief Executive Officer, Connector Subsea Solutions commented; “Having led the industry on every major milestone with regards to remote repair using mechanical connectors, CSS now also has a proven capability for remote welding. Adding Isotek’s expertise and experience to our portfolio of services allows us to offer an unrivaled range of capabilities in the repair of shallow and deepwater pipelines of up to 48in diameter, in the most challenging operating conditions.”
Simon Fripp, General Manager, Isotek added; “The synergies already in place between the Isotek and CSS teams will create exciting opportunities for us to develop new products and solutions for the oil and gas industry, such as our ROV power converters. This will give us strong growth potential and allow us to play a key role in supporting the trend towards autonomous subsea operations, as the industry ventures into increasingly challenging environments.”