Royal Boskalis expands in marine survey market through acquisition of Horizon
Royal Boskalis Westminster has acquired a majority stake in Horizon Geosciences Group, based in United Arab Emirates. Horizon's main activities include marine geophysical surveys and geotechnical services.
Boskalis took a share of 62.5 percent. The remaining 37.5 percent of the shares are held by the incumbent management. The revenue level in the financial year 2018/2019 is expected to exceed 100 million US dollar.Recently, Horizon provided ROV services in the Heera Field, India.
Market leader in Middle East
Peter Berdowski, CEO Boskalis: "Through this transaction, we are adding an important strategic position to our existing marine survey and subsea geotechnical business."
According to Berdowski his company wants to expand on the market leader position and further expand the high quality of services the deliver to their clients. "Furthermore, Horizon with its strong market position in the Middle East, makes this addition highly complementary to the position we hold through Gardline in Northwest Europe", Berdowski added.
Fleet of survey vessels
Horizon Geosciences operates seven large survey/geotechnical vessels, of which three are on a long term charter, in addition to five smaller survey vessels, two jack-up platforms, three motion-compensated drill towers for geotechnical services and eight ROVs.
Horizon was established in 2004 and is located in Sharjah in the UAE. Its activities are largely based in the Arabian Gulf and the Red Sea with clients ranging from national oil companies as well as reputable international EPCI contractors to the oil and gas industry.
This news item was originally published on the website of Royal Boskalis.
(Photos: Horizon Geosciences Group)
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