Oceaneering Press Release | Oceaneering Acquires Equity Interest in Viper Subsea
Oceaneering Acquires Equity Interest in Viper Subsea
August 17. 2015 – Houston, Texas – On August 7, 2015, Oceaneering International Services Ltd., a wholly-owned subsidiary of Oceaneering International, Inc., acquired a minority equity interest in Viper Subsea Technology Limited (“Viper”), a U.K.-based provider of control system distribution services and products. Through collaboration, Oceaneering and Viper customers will benefit from both companies’ expertise, product offerings, and services.
By combining Viper’s services and technologies with Oceaneering’s subsea distribution systems, customers will be provided with innovative products and services such as Viper’s V-LIFE, a remedy to one of subsea engineering’s most common problems ‒ the degradation of insulation resistance in subsea cables, umbilicals, and connectors. According to Viper, the breakthrough technology is saving the subsea industry millions by deferring the need for costly intervention and equipment replacement. V-LIFE has successfully been used to resurrect completely failed systems allowing fields to resume hydrocarbon production.
Established in 2007, Viper offers a range of engineering consultancy services and provides hydraulic, chemical, and electrical subsea distribution systems and equipment. In addition to the fast growing V-LIFE service, Viper continues developing new proprietary technology such as V-IR, which will allow customers to monitor, predict and mitigate against subsea insulation resistance failures.
Rod Larson, President and Chief Operating Officer, stated, “Oceaneering is very excited to be entering into this strategic relationship with Viper. Through our collaboration, Oceaneering will be in a better position to offer our customers solutions to their subsea distribution needs during the development and production phases of the oilfield lifecycle.”
To learn more about Oceaneering or Viper Subsea, please visit http://www.oceaneering.com or http://www.vipersubsea.com/.
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