Funding boost for ROVOPCompany News // December 21, 2017
ROVOP Limited in the UK is to increase its fleet of ROVs by 50% to meet ongoing customer demand following a funding boost of £56 million.
Blue Water Energy and BGF have jointly committed to the funding which underpins ROVOP’s future growth plans including the creation of potentially up to 80 jobs.
ROVOP, which has bases in Aberdeen and Houston, employs more than 180 people in onshore and offshore roles, and operates 16 ROVs.
The funding has enabled the company to increase its fleet immediately to 24 ROVs with the new assets being acquired from Tidewater in Houston.
CEO Steven Gray said “The past few years have seen customers recognise the difference in our quality of service. This latest investment allows us to continue to deliver this service to more customers, especially in the US where much of the new fleet has being acquired from Tidewater. The combination of the latest ROVs with our current assets mean that we will have the highest quality ROV fleet globally.
“With BGF’s support, we have already established ourselves as a leading specialist in our field. The new partnership with Blue Water Energy will cement this further and accelerate our ambitious growth plans.
“This funding package allows an immediate step change for our business, and secures the funding required to execute our growth plans over the coming years."
He added: “As part of this new company chapter, Mark Vorenkamp is taking the opportunity to retire as Chaitman of the company and I’d like to thank him for his enormous contribution to ROVOP over the past six years. Mark has been an exceptional asset and mentor to the business at many levels. He will be hugely missed by the team and we wish him all the very best for the future.”