Technip Completes Sale of Diving Assets to Ranger Offshore

French oilfield services firm Technip reported Tuesday that it has now completed the sale of its diving assets in the Gulf of Mexico to Ranger Offshore Incorporated.

Technip said the sale reinforces its strategy of focusing on its core North America subsea business lines of high technology and ultra-deep water products and services.

Proceeds from the divestment will be partially reinvested directly into its North America subsea business segment, specifically focusing on enhancements to its spoolbase located in Mobile, Alabama and the optimization of certain construction and pipelay vessels.

As part of the sale, Technip USA and Ranger Offshore have entered into a multi-year diving services agreement that covers Technip's North America region.

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