Subsea technology provider Optime Subsea has announced an agreement for Halliburton to purchase it.
The acquisition will bring Optime Subsea’s umbilical-less technology into Halliburton’s Testing and Subsea division and provide Optime Subsea access to global markets and resources for further technology development. The transaction is anticipated to close in early 2025, subject to regulatory approval and other customary closing conditions.
“This announcement marks a significant milestone for both Optime Subsea and the Norwegian subsea industry’s position in the global market,” said Jan-Fredrik Carlsen, CEO of Optime Subsea. “The agreement is a validation of our journey as a company, from a local startup to a leader in subsea technology. We are proud of our roots and the strong commitment of our employees, who have made this success possible. This is a fantastic opportunity to join Halliburton and contribute to further growth and development.”
Founded in 2015, Optime Subsea invents and supplies technologies and services within subsea intervention, well completion, and well control.
“Optime Subsea’s pioneering technology provides numerous benefits compared to traditional hydraulic umbilicals and complements our existing portfolio of proven and innovative solutions in subsea intervention and well construction,” saiid Richard Broad, vice president of Halliburton Testing and Subsea. “The pending acquisition of Optime Subsea is expected to advance our subsea oil and gas value chain and is part of our strategy to maximize asset value for our customers through modular, scalable, and universal solutions.”
“Halliburton’s pending acquisition of Optime Subsea is a testament to the world-class expertise found in Norway’s subsea technology sector and demonstrates the region’s leadership as an innovation hub for the oil and gas industry,” Carlsen said. “We have always had a strong foundation in Notodden and Kongsberg, and we anticipate significant growth at both locations through increased access to the international market.”