AquaTerra extends offering after snapping up fellow Aberdeen firm SETS

AquaTerra is currently involved in the removal and repair of more than 40 conductors and caissons in the North Sea. Picture: Contributed

AquaTerra said it had a 15-year track record in delivering “technically challenging engineering, construction and decommissioning projects”. The company is currently involved in the removal and repair of more than 40 conductors and caissons in the North Sea.

Subsea engineering and technology business SETS was formed in 2011 and is focused primarily on conductor inspection and integrity, repair and maintenance.

Financial terms surrounding the transaction have not been disclosed. The acquisition will take AquaTerra’s headcount to over 120 and provides “a suite of additional equipment and capabilities”, the firm said.

Peter Robinson, AquaTerra Group’s managing director, said: “The acquisition of SETS represents a major step forward for our business and significantly enhances our offshore construction division. This acquisition means AquaTerra is now able to provide expert conductor and caisson intervention services both above and below the waterline.”

Investment

The group said that plans were already in place for further investment over the next two years to develop additional tooling innovations including cutting and subsea “composite wrapping” of conductors, caissons and risers.

SETS’ engineering team will also bring “smart intervention technology” to AquaTerra. Remotely operated by a team on the platform, the technology removes the need for diver support, and is said to “dramatically” reduce time and cost.

AquaTerra said the acquisition would build on its “technology development focus”, which includes an ongoing project with Aberdeen’s Oil & Gas Technology Centre (OGTC) to develop AquaShim, a composite stabilisation system for conductors.

The system has attracted a growing order book from several North Sea operators.