Technip, a leader in project management, engineering and construction for the energy industry, has completed the sale of its diving assets in the US Gulf of Mexico to Ranger Offshore.

The sale reinforces Technip’s strategy to focus on its core North America subsea business lines of high technology and ultra-deep water products and services, which, together with its approach of early involvement enables Technip to provide clients with optimised cost and schedule driven solutions, said a statement.

The proceeds from this divestment will be partially reinvested directly into the North America Subsea business segment, specifically focusing on enhancements to its spoolbase located in Mobile, Alabama, US, and optimisation of certain construction and pipelay vessels.

As part of this transaction, Technip US and Ranger Offshore have entered into a multiyear diving services agreement covering Technip’s North America Region. - TradeArabia News Service