HitecVision, a private equity investor focused on the upstream offshore oil and gas industry, has established a new company, CapeOmega.
According to a release by HitecVision, CapeOmega will be the first operator specializing in tail-end production and abandonment on the NCS, and expects through this specialization to achieve cost savings through scale, the use of state of the art technology and learning from repeated abandonment projects.
Frode Losnedal has been recruited as CEO. Losnedal was previously the CEO of Ross Offshore. An experienced management team and board have been recruited to the company.