Ranger Offshore to acquire Technip USA’s diving assets

Offshore staff

HOUSTONRanger Offshore Inc., a global marine and subsea construction and support services contractor to the offshore oil and gas industry, has  signed an agreement to acquire Technip USA’s diving assets, belonging to the diving division for the North American region of international oilfield services company Technip SA. Closing of the transaction is scheduled to take place in 4Q 2014.

The acquisition includes diving assets and two dynamically positioned multi-service support vessels, as well as a multi-year preferred sub-contractor agreement for Ranger to provide diving services to Technip USA. The assets are used in the Gulf of Mexico and the Caribbean for diving support construction services directly to Technip USA and third-party customers.

Services are provided to clients via two support vessels, the MSV Global Orion and the MSV Normand Commander. The MSV Global Orion is fully owned, while the MSV Normand Commander is on long-term charter, which will be assumed by Ranger from Technip USA.

In addition to the two vessels, other assets include saturation diving systems, surface compression chambers, launch and recovery systems, diving control systems, and other ancillary diving equipment.

Proceeds from this divestment will be partially reinvested directly into Technip's Subsea business, specifically focusing on improvements to the rigid pipe fabrication facility (spoolbase) in Mobile, Alabama.

As part of this transaction, Technip and Ranger Offshore have entered into a multi-year diving services agreement covering Technip’s North America Region.

The sale is expected to close during 4Q 2014.

09/16/2014

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