DeepOcean celebrates 25-year anniversary

DeepOcean celebrates 25-year anniversary

Established as a pure-play oil services player in Haugesund, Norway, in 1999, DeepOcean has since evolved into a company that provides its specialist subsea competence across multiple ocean-based industry sectors, including offshore wind, offshore oil and gas, recycling of subsea infrastructure, and subsea minerals.

In 2016, Triton, a leading European mid-market sector-specialist investor, became DeepOcean's largest shareholders. Triton has since supported DeepOcean with the acquisitions of ROV service provider Searov in 2017, Houston-based IRM company Delta Subsea in 2018, Norwegian subsea cable engineering and technology company Installit in 2022, and digital transformation company btwn AS in 2023.

Today, DeepOcean has offices and operations in the Norwegian and UK sectors of the North Sea, in both North and South America and West Africa. At year-end 2023, the company had approximately 1,400 employees, including a 400 people strong engineering team that are specialists on solving subsea challenges across industries.

DeepOcean's human brainpower is backed by a pool of approximately 1,000 specialist subsea tools that have been developed for clients, a fleet of more than 50 ROV systems, and a fleet of 20 ships, of which the large majority is chartered.

"We are proud of everything we have achieved over these past 25 years. Yes, there have been both ups and downs, but I honestly believe that DeepOcean is stronger than ever. Our ability to serve customers across multiple ocean-based industries, including offshore wind and oil and gas, has never been better," says Øyvind Mikaelsen, CEO of DeepOcean.

Remote future

DeepOcean today announces that it has reduced its own CO2 emissions intensity by 18 percent since 2020, This means that the company considers itself to be on track to reach its target of 45 percent reduction in CO2 emissions by 2030.

A key enabler to this reduction has been a continuous effort to modernize DeepOcean's fleet through collaboration with shipowners that are willing to invest in emission reductions, including installation of battery hybrid systems.

Further, DeepOcean has taken multiple strategic measures to drive a cost-efficient energy transition at sea. In 2022, the company established two joint ventures - Remota AS and USV AS - together with Solstad Offshore and Østensjø to accelerate the use of unmanned vessels and remotely controlled operations offshore. DeepOcean has also developed an Autonomous Inspection Drone which in 2023 successfully carried out its first offshore operations.

"We are pushing hard to enable the energy transition and sustainable use of ocean resources. We use sustainable data, technology and operational practices to reduce climate impacts and influence real change in our industry. We will utilize our 25-year anniversary to remind clients, partners and employees of these efforts and how they can benefit from them," adds Øyvind Mikaelsen.

(ENDS)

For further media information, please contact:

Monika Lamb

Group Marketing & Communications Director

M | +47 909 17 565

E | [email protected]

About DeepOcean

DeepOcean is a world-leading ocean services provider, enabling energy transition and sustainable use of ocean resources, offering survey, engineering, project management, installation, maintenance, and recycling services for oil and gas, offshore renewables, deep sea minerals, and other ocean services.

Across the global offices, DeepOcean is a trusted independent solutions provider with highly skilled industry experts, using world-class fit-for-purpose tools and technology to drive cost-efficient and safe operations. The company delivers innovative engineering solutions focusing on remote and unmanned operations and digitally-enabled services while continuously striving to lower the carbon footprint.

DeepOcean is owned by Triton, a leading European mid-market sector-specialist investor. As an active owner, Triton supports its portfolio companies to reach their full potential and works closely with DeepOcean to drive value creation. Founded in 1997, Triton invests in businesses that provide important goods and services in the Business Services, Industrial Tech, Healthcare, and Consumer sectors.

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