Otto Marine eyeing subsea business expansion

Singapore’s Otto Marine, an offshore marine group which owns and operates a large fleet of offshore support vessel has said it is looking at options to expedite the expansion of its subsea operations business.

According to a press release issued today, the Subsea Expansion would cover provision of light construction services in deepwater Oil and Gas field developments, while performing inspection, maintenance and repair (“IMR”) on existing and expanding subsea developed regions, and provision of specialised subsea vessels on long term charter in specific regions in support of subsea developments.

The options include a potential listing of one of its wholly owned subsidiaries, Surf Subsea Pte Ltd, on the Singapore Exchange Securities Trading Limited. The Company has appointed UOB Kay Hian Holdings Limited to explore, and to advise it on the feasibility of such listing.

Commenting on the Otto’s strategic approach, Michael See, Group Executive Director, said “The exploration of strategic alternatives for Otto Marine demonstrates our commitment to enhancing shareholder value and sharpening our strategic and financial focus. We believe there are avenues that could afford Otto Marine more versatility to make strategic investment decision to take full advantage of the compelling prospects of the subsea segment and to better position the business for its customers, partners and employees.”

 

 

August 25, 2014

 

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply