4Subsea’s acquisition will support Subsea 7’s efforts to provide digital solutions to customers within its Life of Field and field development contracts. Credit: © SUBSEA 7.

Norwegian company Subsea 7 has acquired technology and services provider 4Subsea in a 100% stock buyout transaction.

Following the acquisition, 4Subsea will function independently within Subsea 7 and maintain its brand and management team, led by CEO Peter Jenkins.

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It will also support Subsea 7’s efforts to provide digital solutions to customers within Life of Field and Field Development contracts.

4Subsea’s acquisition will be a complementary addition to the ongoing digital transformation of Subsea 7.

Subsea 7 Alliances and Strategy executive vice-president Stuart Fitzgerald said: “4Subsea 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.

“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.”

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The two entities will initially collaborate on a project that involves monitoring of operational data on Subsea 7 vessels, contributing to the digitalisation of its marine operations.

4Subsea will make use of advanced algorithms and artificial intelligence (AI) to deliver key insights and decision support with digital twins, so as to optimise marine operational activities.

Jenkins said: “We believe there is significant value to energy operators in combining our services with Subsea 7’s Field Development and Life of Field business.

“In addition, we can create value within Subsea 7 with the vessel monitoring project, in the same way we have developed digital twins for subsea production and drilling.”

Last month, Subsea 7 secured an engineering, procurement, construction and installation (EPCI) contract for an offshore project in Saudi Arabia.

In the same month, the company secured three EPCI contracts from Saudi Aramco.