Norwegian Offshore Rental (NOR) is entering the Asia-Pacific (APAC) market through the acquisition of Clockwise Subsea, a provider of rental and sale of marine equipment to the civil, marine, renewable and oil & gas sectors.
Established in 2017, Clockwise Subsea is based in Singapore, Malaysia and India, providing specialized marine rental solutions to clients across the region.
According to NOR, the strategic acquisition is combining Asia and the North Sea expertise and resources to deliver enhanced solutions for the global offshore industry, aiming to create a stronger, more competitive entity poised to meet the market’s evolving demands.
“As part of this strategic move, NOR will be making a significant investment in Survey and Robotics in the region to enhance the group’s rental pool and service offerings,” said NOR’s CEO Tore Gautesen .
“This acquisition not only increases product range and provided services but also improves response times and enhances the expertise of both teams by sharing best practices.”
The Norwegian company further noted that the partners share a unanimous commitment to quality and service excellence particularly in supporting the growth in the offshore wind and marine energy sectors.
Deon Brand , General Manager of Clockwise Subsea, said that premises will be set up in Australia early this year, with other strategic locations also planned.
“By joining forces, NOR has demonstrated their faith in our team’s ability to deliver significant growth for NOR in the region. We’re excited at the prospect of offering our clients access to a greater pool of equipment, a more comprehensive suite of services and improved project execution, ultimately driving greater value whilst maintaining our shared customer-focused mentality,” Brand said.