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    Ranger acquires slice of Technip

    News // October 9, 2014

    Technip has agreed to divest all of its North American diving assets to Ranger Offshore in order to focus on high technology and ultra-deep water products and services.

    Proceeds from the sale will be partially reinvested directly into Technipís Subsea business, specifically focusing on improvements to the rigid pipe fabrication facility in Mobile, Alabama in the US.

    Broker Seabrokers said that, as part of the transaction, Technip and Ranger Offshore have entered into a multi-year
    Diving Services Agreement covering Technipís North America Region.

    The agreement will see Ranger Offshore take control of MSVs Global Orion and Normand Commander.

    Global Orion is fully owned, while Normand Commander is on a long-term charter, which will be assumed by Ranger from Technip USA.

    Closure of the sale is due to take place during the fourth quarter.

     

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