The transaction marks the beginning of a new ownership chapter for the company, ensuring continuity in strategy and leadership while providing a strong platform for the next phase of growth. It follows a successful period of development for the business, during which Aquaterra Energy has expanded its capabilities across the offshore asset lifecycle, including intervention, abandonment, decommissioning, and energy transition markets.
Aquaterra CEO George Morrison said: “This is an important milestone in Aquaterra Energy’s journey and a statement of confidence in the future of the business. As a management team, we have always believed in this business, its people, and its potential to be the global partner of choice for offshore well access and field development solutions. This new ownership structure gives us a strong platform from which to continue investing in our people, capabilities and technology, while remaining focused on delivering for our customers and pursuing opportunities for long-term growth.
“We remain committed to the overall strategy that has delivered us success to date—delivering intelligently engineered products and solutions for global well access and offshore development projects while ensuring the highest standards of delivery and quality. Our focus now is to build on that platform to invest in what matters most to our customers, whether that’s in new solutions and technology, in expanding our geographic footprint, or applying our approach to newer energy sectors such as carbon capture and storage (CCS).”
The company has secured substantial backing from HSBC and will continue to invest in innovative well access and field development services, where the company has celebrated recent milestones in its recoverable abandonment frame (RAF) system and AQC connector capabilities.
Morrison concluded: “We want to thank our previous owners for their continued support over the years and the critical role they have played in the business, as well as our customers, suppliers and partners. We would especially like to thank our colleagues at Aquaterra Energy who have been crucial to our success and will play a vital role in shaping our next chapter.”
