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Oceaneering Completes Acquisition of Blue Ocean Technologies

18.10.2016
Oceaneering International, Inc. (“Oceaneering”) (NYSE:OII) announced today that it has acquired the assets of Blue Ocean Technologies, LLC (“Blue Ocean”), a privately held provider of riserless light well intervention (“RLWI”) services, for approximately $30 million in cash. Included in the acquisition are three RLWI systems, two of which are currently under construction, and are expected to be fully functional by mid-2017. Oceaneering expects to invest approximately $10 million to complete construction of the two RLWI systems.

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