Norway-based ABL Group has agreed to acquire all shares of Ross Offshore, a specialist energy consultancy owned by Moreld Group.
This acquisition is expected to create opportunities for the expansion and globalisation of services within the oil and gas industry, as well as the renewable energy sectors.
The deal values Ross Offshore at Nkr100m ($9.2m).
Ross Offshore, established in 1997, has evolved into a provider of services including drilling, well management, subsurface services and consultancy.
Its expertise also extends to marine and offshore operations, covering areas such as marine mobilisation and health, safety, quality and environment consulting.
As per the plan, Ross Offshore will be integrated with ABL Group's AGR, enhancing the group's service offerings in wells, reservoir operations and consultancy services.
Ross Offshore's current portfolio includes frame agreements for well management and consultancy on the Norwegian Continental Shelf.
With a workforce of 152, including 48 permanent staff and 104 associates or independent consultants, Ross Offshore also maintains offices in Sandefjord and Bergen, Norway.
In addition to its core services, Ross Offshore has a 25% minority shareholding in Ross Energy, a Danish well management and subsurface consultancy.
Reuben Segal, CEO of ABL Group said: “This is the latest expansion of our technical offering in wells and reservoir operations, bringing together an even deeper pool of expertise, that enables us to support more clients worldwide across their oil operations.
Ross Offshore CEO Jørgen Jørgensen said: “This partnership is a strategic synergy of two completely complementary companies, unlocking the opportunity to further strengthen our mutual position in oil and gas markets, so we can help bring best practice to more clients in more countries globally.
“It also represents a chance for both companies to grow our activity in the energy transition space. Lastly, with AGR and part of ABL Group, we will be able to nurture and grow the Ross approach for technical excellence beyond Norway and into new industry sectors.”
The deal is subject to approval from the Norwegian competition regulator and is expected to complete by the third quarter of 2024.
