GE acquisition strengthens subsea intervention capability

Offshore staff

OSLO, NorwayGE Oil & Gas (NYSE: GE) has agreed to acquire subsea intervention specialist Advantec.

The acquisition is part of GE’s strategy to address issues affecting the growing number of mature subsea fields, and to strengthen its position as a provider of subsea production equipment and solutions for full life-of-field management.

Advantec, formed in 2005, will operate under the existing name and management team as part of GE’s Subsea Services & Offshore division, continuing to supply products and services directly to existing and new clients.

GE itself is one of Advantec’s largest customers, using the latter’s capabilities in electro-hydraulic subsea controls equipment, system integration and engineering/fabrication to support GE’s installed base of subsea equipment.

Advantec supplies and rents Installation WorkOver Control Systems for subsea intervention tasks.

10/30/2015

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