Halliburton acquires Norwegian technology company Optime Subsea, enhancing global market access and technological development.

From Nasdaq: 2024-12-30 05:49:00

Halliburton Company, HAL, has acquired Optime Subsea, a Norwegian offshore technology company. This partnership will enhance both companies’ global market access and technological development, integrating Optime Subsea’s umbilical-less technology into Halliburton’s Testing and Subsea division for streamlined operations and risk reduction.

Optime Subsea’s growth from a local startup to a global leader in subsea technology has positioned it as a valuable asset in this acquisition. The company’s services, including subsea intervention and well control, offer significant advantages over traditional hydraulic umbilicals, showcasing the benefits of this deal for both parties.

HAL’s strategic alliance with Optime Subsea in 2021 paved the way for this acquisition, highlighting Norway’s role as an innovation hub in the oil and gas industry. The transaction is expected to be finalized by early 2025 pending regulatory approvals and closing conditions, setting the stage for further advancements in the subsea oil and gas value chain.

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Read more at Nasdaq: Halliburton to Acquire Offshore Technology Provider Optime Subsea