Oilfield services firm Oceaneering to buy Norway’s ASA's unit for $240 mn

Oilfield services provider Oceaneering International Inc yesterday agreed to buy AGR Group ASA's Field Operations unit for about $240 million, to boost its inspection business in Norway.

Bergen, Norway-based AGR Field Operations (AGR FO) provides oil and gas rig and pipeline inspection, maintenance, subsea engineering and field operations services.

AGR FO  also has a substantial operating presence in Australia, with offices in Melbourne, Brisbane, and Perth from which it operates and maintains offshore and onshore oil and gas production facilities. 

Additionally, the company provides subsea engineering services and operates an offshore logistics supply base in Darwin.

Oceaneering believes AGR FO is Norway's largest asset integrity management service provider on pipelines, offshore production platforms, and onshore facilities.