Technip has signed an agreement to sell 100% of its North American diving assets to Ranger Offshore Inc., according to a news release.
Technip’s strategy focuses on high technology and ultradeep water products and services.
Proceeds from this divestment will be partially reinvested directly into Technip's subsea business, specifically focusing on improvements to the rigid pipe fabrication facility (spoolbase) in Mobile, Alabama, Technip said in the release. As part of this transaction, Technip and Ranger Offshore have entered multiyear diving services agreements covering Technip’s North America Region.
The closing of the sale is estimated to occur during fourth-quarter 2014.