Another Giant Has Emerged in the Offshore Energy Oilfield Services Market
Norwegian offshore services company DOF Group has announced an agreement to acquire Denmark-based Maersk Supply Service for $1.11 billion.
The combined company, branded as DOF Group, will be one of the largest oilfield services companies in the offshore energy industry with a combined market capitalization of approximately $2.3 billion.
The transaction will increase DOF’s fleet to 78 modern offshore/subsea vessels, including 65 owned vessels, with the addition of 22 Maersk Supply Service vessels, consisting of eight highly specialized CSVs, 13 highly specialized AHTS vessels and one cable-laying vessel.
Prior to the closing of the transaction, certain entities, vessels, assets and liabilities will be divested from Maersk Supply Service and will not be acquired by DOF. The offshore wind business has already been spun off from Maersk Supply Service. The deal also does not include Maersk Supply Service’s operations in Brazil.
