Rebranded UK Subsea Co Delivers Intervention Technology

Aberdeen-based Specialist Subsea Services Ltd launches today, delivering intervention technology to the deep and ultra deepwater subsea oil and gas and offshore renewables sectors.

With the full support from EXS Subsea AS, a Norwegian Oil & Gas investment company, Graeme Kidd, managing director of Specialist Subsea Services Ltd has led a successful management buyout of Oceanteam Subsea Services Ltd. An initial sum of around £10 million has been earmarked for further investment and expansion of the company over the next two years. Areas identified for expansion include Survey, ROV, Geotechnical and Intervention services, with a special focus on the technologically advanced deepwater market.

All 24 existing onshore and offshore employees will continue working out of the existing offices in Aberdeen and its regional base in Angola under the new banner of Specialist Subsea Services Ltd. The management team, with a proven track record, consists of: Graeme Kidd, managing director; Peter Mackintosh, finance director; Will Primavesi, survey director; and Dave McKay, ROV director. They bring with them a large range of skills and experience accumulated from each working in the energy industry over a period of 20 to 30 years. These skills are further enhanced by the depth of knowledge and experience inherent in the group owners of EXS Subsea AS.

Kidd said, "This is a period of opportunity for both industries and we firmly believe that our commitment to the market will be substantiated in the future. We are well positioned to capture part of this increased demand driven by larger exploration and production spend from our clients, as subsea intervention plays an ever-increasing role in the offshore oil and gas industry coupled with our support of the burgeoning offshore renewable industry."

Specialist Subsea Services presently owns two state of the art XLS ROV systems and uses the latest technological survey equipment available in the market. Projects are currently ongoing in the North Sea, with the company's intention to expand globally starting through its subsidiary in Angola.

Kidd continued, "With the vast knowledge and recognition of Aberdeen as a world leader in subsea oil and gas activity, it has encouraged us to maintain our presence and offices in the city after our rebranding which has led to the formation of Specialist Subsea Services Ltd."