Technip has completed the previously announced sale of its Diving Assets in the US Gulf of Mexico to Ranger Offshore.
Earlier this month, Ranger also reported the closure of the previously announced agreement.
Technip believes that this sale reinforces its strategy to focus on its core North America subsea business lines of high technology and ultra-deep water products and services, which, together with its approach of early involvement enables Technip to provide clients with optimized cost and schedule driven solutions.
According to the company, proceeds from this divestment will be partially reinvested directly into the North America Subsea business segment, specifically focusing on enhancements to its spoolbase located in Mobile, Alabama, USA, and optimization of certain construction and pipelay vessels.
In addition, as part of this transaction, Technip USA and Ranger Offshore have entered into a multiyear Diving Services Agreement covering Technip’s North America Region.