Marine Subsea Acquires Lewis Ltd

Marine Subsea AS has entered into an agreement to acquire the Scottish subsea company Lewis Ltd. Lewis provides design, development and engineering, as well as project management services to the oil and gas industry.

We are pleased to announce the strategic decision to acquire Lewis Ltd., leveraging our presence in the subsea well intervention market. Lewis' highly competent engineers and designers offer complete solutions and advanced intervention technologies. Lewis is regarded among the industry leaders in riserless intervention technologies. By incorporating Lewis' intervention systems for access to subsea wells with our intervention vessels, Marine Subsea becomes a more complete provider of services to the oil and gas industry, says Managing Director Christian Nygaard in Marine Subsea AS.

Lewis will operate as normal towards existing clients, but with the added financial backing of Marine Subsea. In addition, the transaction will reduce Lewis' time-to-market for new subsea technologies.

We are delighted to enter into this new relationship with Marine Subsea. The company is building two new vessels and the inclusion of our intervention systems will clearly be advantageous. Additionally, we will continue to develop advanced subsea intervention systems, technologies and equipment for the wider well operations market, Lewis' Managing Director, Drummond Lawson, says.