The acquisition of the 30 OSVs and two management offices sees Britoil expanding its geographical reach into the Mediterranean, the North Sea and Asia Pacific, adding to existing operations in the Middle East and North Africa. The expansion will double the size of Britoil’s fleet.
Management at the two offices taken over from Vroon will remain the same with Ernest Loh and Sivakumar Ramadu continuing to lead the team in Singapore and Andrea Cavo helming the team in Italy. They will report to Florent Kirchhoff, Chief Executive Officer of Britoil.
“After setting up our Dubai office and acquiring seven offshore service vessels last year, this acquisition provides a robust platform for growth as a combined company,” said Britoil’s Kirchhoff.
“Vroon’s reliable, sustainable and cost-effective solutions have seen many successes with their clients. Sustainability is no longer a want but a must and need. Britoil’s customers will be able to benefit and see cost-effectiveness in our solutions moving forward,” he added.
For Vroon it largely brings to an end a phase of asset disposals.
Martijn Schouten, CEO of Vroon, commented, “With the sale to Britoil of 30 offshore-support vessels and our offshore management offices in Genoa and Singapore, we have virtually completed the divestments that are part of our financial restructuring and strategic refocus, which we communicated earlier this year.”
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