Norwegian offshore vessel specialist DOF Subsea has taken full control of Canadian Subsea Shipping Company AS.
According to a filing on the Oslo Stock Exchange on Monday afternoon, DOF has bought the remaining shares in Canadian Subsea Shipping.
DOF, providing survey, remote intervention and diving operations primarily for the oil and gas sector, had owned 45 percent of stake in the company prior to the acquisition.
The financial details for the transaction were not disclosed.
As for the now fully-owned subsidiary, Canadian Subsea Shipping Company AS, the company has a newbuild vessel Skandi Vinland under construction at Vard Group in Norway.
The vessel is expected to be delivered in June, and will be used by DOF Subsea in Canada for a 10-year IMR contract with Husky Energy. The contract is expected to start in July.
Offshore Energy Today Staff