BP to Sell GOM Telecoms Network

BP to Sell GOM Telecoms Network
Offshore communication network provider Tampnet has agreed to purchase an offshore fiber cable system from BP.

Offshore communication network provider Tampnet reported Monday that it has agreed to purchase a 746-mile (1,200-kilometer) offshore fiber cable system in the Gulf of Mexico (GoM) from BP (NYSE: BP).

“This is an extremely important milestone for Tampnet as it enhances our infrastructure in the GoM from which we can serve even more customers,” Tampnet CEO Per Helge Sensson remarked in a written statement emailed to Rigzone. “We believe an independent telecoms operator will be attractive to new customers and we are committed to delivering the same high level of communications as customers experience today.”

According to Tampnet, the acquisition will give it ownership of a key subsea fiber cable system that it had already been using for its offshore LTE network. The company added the purchase will help it improve its GoM infrastructure and market position. It also noted the fiber cable system comes with existing long-term contracts with large customers active in the deepwater GoM.

Tampnet, which stated commercial terms of the deal are not being disclosed, noted that it plans to expand the network to provide direct fiber access and LTE coverage to customers across the maritime industry. Pending third-party and regulatory consents and approvals, the acquisition will likely close by the end of this year, the buyer added.

To contact the author, email mveazey@rigzone.com.



Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.