Norway's CoreMarine Acquires Brazilian Company to Expand Deepwater Subsea Engineering Business
en.Wedoany.com Reported - On September 17, Norwegian offshore engineering company CoreMarine completed the acquisition of Brazilian offshore engineering services firm BravOcean, further expanding its local project delivery capabilities in Brazil's deepwater and ultra-deepwater market. BravOcean primarily provides subsea installation support, project management, and specialized technical personnel services, with a key focus on deepwater SURF projects, namely engineering related to subsea umbilicals, risers, and flowlines.
BravOcean's existing business primarily revolves around Brazilian offshore oil and gas projects, covering subsea installation support, construction organization, project management, and professional personnel deployment. Following this acquisition, CoreMarine will combine its own offshore construction, mooring, riser, and deepwater engineering capabilities with BravOcean's local Brazilian execution team to form a localized service system spanning from engineering support to on-site implementation.
CoreMarine's existing business covers mooring systems, risers, subsea construction, and complex offshore project delivery, with operations in Norway, Spain, Brazil, and Australia. The company also connects its operational technology products to offshore projects through CoreDigital for project execution, efficiency, and engineering assurance. This acquisition gives it more complete local personnel, project management, and subsea installation support capabilities in Brazil.
Brazil is a key market in CoreMarine's long-term growth strategy. Following the acquisition, the company will focus on undertaking local deepwater subsea construction, SURF installation support, project delivery, and technical service demands, using BravOcean's existing team as the local execution foundation. CoreMarine stated that the two parties had already maintained a cooperative relationship for many years, and this transaction represents a further integration of their existing collaboration.
The transaction has been completed, but the two parties did not disclose the acquisition amount, equity structure adjustments, BravOcean's employee headcount, or future capital investment plans.
