Fugro strengthens its position in Middle East offshore oil services market
Geological engineering company Fugro has reached agreement to acquire DCN Global LLC, a company specialising in the provision of subsea engineering and diving services to the offshore civil and oil & gas industry, primarily in the Middle East.
Over the last four decades Fugro has firmly established itself as the leading player in the offshore survey and geotechnical markets in the Middle East. In addition, Fugro provides underwater support to oil and gas companies with a modern fleet of remotely operated vehicles (ROVs).
Combining ROV and diving inspection
To an increasing extent, clients in the Middel East region combine their ROV and diving inspection needs into a single contract. With the acquisition of DCN Global, Fugro significantly strengthens its ability to offer an integrated offshore service package of survey, geotechnical and IRM (inspection, repair and maintenance) services.
Headqaurtered in Abu Dhabi
DCN Global, headquartered in Abu Dhabi, began in 2010 and has an excellent track record based on its engineering capabilities and the quality of its staff. The company employs 39 people onshore and has up to 170 contract staff offshore at any one time.
Fugro has already cooperated with the company on joint projects for the past two years. DCN Global has enjoyed rapid recent growth of its business and is expected to generate revenues of approximately 30 million USD in 2013.
The company has worked for oil & gas, dredging and construction companies throughout the Middle East region including Abu Dhabi, Qatar and Saudi Arabia.
DCN Global will move its activities to Fugro’s offices before the end of this year. The current management team will stay on to continue to work for Fugro.
Completion of the sale agreement requires standard regulatory approval which should be completed shortly.
Geological engineering company Fugro is a geological engineering company that collectes and interpretates data relating to the earth’s surface and sub-surface and for associated services and advice in support of infrastructure development on land, along the coast and on the seabed. Its activities are carried out across the world, onshore, offshore and from the air, and are primarily aimed at the oil and gas industry, construction industry, mining sector and governments.
Fugro employes over 12,000 staff in more than 60 countries.
This news item was originally published on the website of Fugro NV
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