ISS Extends Reach in Southeast Asia, Acquires Australian Assets
Integrated Subsea Services (ISS) expands in Southeast Asia with a new office in Singapore and an acquisition in Australia.
The Aberdeen-headquartered diving support services business, whose turnover now exceeds £100 million, has acquired the assets of Submec's ROV (remotely operated vehicle) personnel and services business for an undisclosed sum.
Submec, based in Perth Australia, provides inspection, maintenance and repair support service for ROV operations, including onshore management, operational and technical support, project engineering and design engineering. ISS has acquired the assets, including two Triton XLX ROVs, of its business which provides systems, personnel and services to the subsea sector operating offshore Australia. All 55 offshore and onshore personnel associated with the £4 million ROV business will transfer to ISS with immediate effect.
To further the expansion into the fast-growing Southeast Asia subsea oil and gas market, ISS has opened an office in Singapore and appointed Allan Nairn as area manager, Eliot Ward as business development manager and George Lambert as diving operations manager.
ISS now employs over 650 people worldwide and operates from bases in Aberdeen, Singapore, Baku, Egypt and Perth, Australia.
Ian Herd, founder and managing director of ISS said, "On the back of client demand, we have been investigating the potential in Southeast Asia for some time and are pleased to have appointed high calibre people with proven experience in this market to drive forward our operations in the region.
"Submec was keen to re-focus on the delivery of tooling services and this presented us with a golden opportunity to acquire their ROV services business which is one of our main focus areas and where we are now a market leader.
"There is a real need for an independent provider of subsea services in Southeast Asia and we anticipate deriving significant growth by filling this gap. Currently 80% of our business is in the North Sea but we are forecasting increasing our international business from 20% of turnover to 40% in the next three years."
ISS provides expert diving, ROV and survey services for all kinds of subsea oil and gas work from new field installation to subsea well intervention and abandonment to pipeline and platform repair and maintenance. ISS now owns and operates a modern fleet of twenty three ROVs all capable of providing advanced field construction, inspection and drill support services around the world.
- ISS Extends Reach in Southeast Asia, Acquires Australian Assets (May 05)
- ISS Taps Sub-Atlantic for Next Generation ROV Control System (Oct 09)
- Bank Of Scotland Invests UK80 Million In Scottish Subsea Business (Apr 04)