Subsea 7 acquires 4Subsea
PRESS RELEASE – Subsea 7 has acquired 4Subsea, a provider of technology and services that help operators maintain production from subsea oil and gas fields and offshore wind farms.
4Subsea will function autonomously within Subsea 7, maintaining an independent brand and management team. Peter Jenkins will continue in his role as CEO of the company.
4Subsea will support Subsea 7 in delivering advanced digital solutions to customers within Life of Field and Field Development contracts and be a key contributor to the ongoing digital transformation of Subsea 7 business delivery.
“We regard the acquisition of 4Subsea as an important opportunity for Subsea 7 to expand its digital capability and offering. 4Subsea’s digital insights will create value for Subsea 7 in both our services provided to customers and to improve efficiency within our own operations and delivery,” says Stuart Fitzgerald, Executive VP Alliances and Strategy at Subsea 7.
“4Subsea’s experienced team of subsea domain experts and data scientists provides innovative digital solutions to energy operators, reducing operational risk, cost and providing actionable insights,” Fitzgerald added.
An early priority project will be a joint effort between Subsea 7 and 4Subsea towards monitoring of key operational data on Subsea 7 vessels, contributing to the digitalisation of its marine operations. With the use of advanced algorithms and artificial intelligence, 4Subsea will deliver key insights and decision support with digital twins, in order to optimise these activities.