Marine Subsea Snaps Up RSWI Engineering Firm Lewis Ltd.

Aberdeen-based subsea engineering consultancy Lewis Ltd has been acquired by Norwegian oil and gas service company Marine Subsea for an undisclosed sum.

As part of the agreement well-intervention technology specialist Lewis will continue to operate independently out of its base in Europe's Oil Capital. It will also retain the same management team headed by Managing Director Drummond Lawson, who established the fast-growing company in 2005.

Two Marine Subsea directors, Christian Nygaard and Knut Harto, will join the Lewis board.

Lawson said: "As far as any existing Lewis clients are concerned, it's very much business as usual but with the added reassurance of the financial backing that our relationship with Marine Subsea will bring. This can only lead to enhanced research and development opportunities."

Lewis has quickly become established as a center of excellence in riserless subsea well intervention (RSWI) engineering, and will continue with its drive to bring the technology into the mainstream of subsea operations.

Lawson added: "I believe Marine Subsea understands that as more companies use riserless subsea well intervention systems it will mean riserless intervention will become a more universally accepted well-access method."

Lewis's relationship with Marine Subsea dates back to 2007 when Lewis undertook a Front Engineering Design Study to specify and design the riserless subsea intervention systems to be operated from the Marine Subsea intervention vessels.

Marine Subsea AS is a Norwegian oil and gas service company, headquartered in Oslo, with focus on construction support and well intervention. Marine Subsea has two well intervention vessels, to be delivered from the Ulstein Yard in 3Q 2009, and 4Q 2010, the first vessel is chartered on a 10 year Sonangol contract for operations in West Africa. Marine Subsea also has five work / accommodation barges to be delivered from1Q 2008, the first barge is on contract with Chevron in Angola. And finally Marine Subsea has a 50/50 joint venture with Consafe MSV AB on a Semi Submersible Crane Vessel to be delivered 3Q 2009. The rig is chartered on a 5 year contract with Sonangol for operations also in Angola. Marine Subsea has also presence at the Sonils base in Angola through the recent acquisition of the oil & gas service company Interoil Angola Limitada. Marine Subsea is OTC-listed under the ticker code MSAS, and is aiming for a listing on Oslo Stock Exchange 2Q 2008.


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