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/.

Articles To solve the unsolvable, Oceaneering seeks out the utmost experts in their respective fields. We provide engineered services and products primarily to the offshore energy industry. Today, we also use applied technology expertise to serve the defense, entertainment, material handling, aerospace, science, and renewable energy industries. With a varied and diverse pool of expertise, Oceaneering strives to be the go-to thoughtleader in our wide-ranging on- and offshore service lines. We thrive by creating industry-changing technically creative solutions for the most complex operational challenges under water, on land, and in space. Our experts are sought out for their knowledge and experience, to shed light on the latest innovative technology and trends within the wide-ranging industries we serve. Our experts are able to speak to these subjects because they are out in the field, working shoulder-to-shoulder with our clients and associated contractors. They work closely to devise solutions to problems that couldn’t be solved otherwise. We demonstrate our value every day, striving to complete projects on-time and on-budget. Our experts have penned thousands of words on topics related to remotely operated vehicles, subsea hardware, asset integrity, flow assurance, diving, survey and mapping, vessels, well intervention, workover control systems, pipeline repair, inspection, non-destructive testing, decommissioning, renewables, umbilicals, valves, marine services, product testing and qualification, data management, vessel navigation and positioning systems, science and other research, and space systems. Our articles section shines a spotlight on our best and brightest thoughtleaders offering history, data, case studies, and even opinions on industry trends and service techniques, so that we may open a dialogue with the rest of the industry, in order to see how we can all better ourselves and come up with the latest solutions and processes yet to be created. We partner with industry publications and other newsmakers to help tell our story and those of our clients because we aim to not only solve the unsolvable but demonstrate our value and expertise as a company, every single day. We do this work with much importance placed on safety, because safety is instilled in every worker, in every region in which we do business.

Company page Since our founding in the early 1960s, Oceaneering has expanded and grown globally to service several industries such as the offshore energy industry, defense, entertainment, material handling, aerospace, science, and renewable energy industries. In 1964, Mike Hughes and Johnny Johnson formed a Gulf of Mexico diving company called World Wide Divers. The company grew in response to increasing demand for their services and in 1969 merged with two other diving companies to form Oceaneering International, Inc. To solve the toughest challenges, we do things differently, creatively, and smarter. As your trusted partner, our unmatched experience and truly innovative portfolio of technologies and solutions give us the flexibility to adapt and evolve, regardless of market conditions. Our mission is to solve the unsolvable. We thrive by creating industry-changing technically creative solutions for the most complex operational challenges under water, on land, and in space. Our five core values establish a common culture and demonstrate what is most important for us as a company. Since the beginning, the company has transformed from a small regional diving company into a global provider of engineered products and services. Today, we develop products and services for use throughout the lifecycle of an offshore oilfield, from drilling to decommissioning. We operate the world's premier fleet of work class ROVs. Additionally, we are a leader in offshore oilfield maintenance services, umbilicals, subsea hardware, and tooling. We also serve the aerospace, defense, and theme park industries. Underpinning everything we do, safety is not only the foundation of our core values, but it is vital to our unmatched performance record and company culture. The industries we serve are as diverse as they are complex. Whether we are engineering deepwater umbilicals or developing robotics for aerospace applications, the safety and health of our employees, vendors, and customers is an integral part of our day-to-day business. If we are working, then our responsibility is to be working safely. Since our inception in 1964, we have placed a high value on employee safety—from diving services and subsea inspection to vessel-based installation operations. We have and will continue to evolve not only our health, safety, and environmental (HSE) processes, but those of the industries in which we work. Although we have been fatality-free since 1999, our HSE journey goes beyond statistics. As our portfolio of services has grown, we have continued to prioritize and advance our approach to HSE.