Fugro Strengthens Position in Middle East Offshore Oil Services Market

Fugro NV has reached agreement with DCN Holdings Limited on the acquisition of DCN Global LLC

By MarEx 2013-09-11 10:38:00

DCN Global LLC is very proud to announce the sale of the company to Fugro Subsea Middle East. DCN Global LLC, headquartered in Abu Dhabi, United Arab Emirates, is a specialist provider of subsea engineering and diving services. The company has primarily operated in the ME, Caspian and African regions and has grown phenomenally over the past few years leading to the interest and final acquisition of DCN Global LLC by Fugro's Subsea division. This acquisition by Fugro is an acknowledgement of a sterling  effort from the staff of DCN. The acquisition will also accelerate all DCN's plans and efforts for growth and any future expansion opportunities in the ever competitive global market for joint Diving and ROV services to the globe.

DCN Global revenues show strong growth as well over the last few years and amount at present to approximately US$ 30 million per annum. The company has 39 permanent staff and up to 170 contract staff at any one time.

DCN Global will be renamed Fugro Subsea Services (Middle East) Limited and will be part of Fugro’s Subsea Services Division. The local DCN Global Management will continue to work in Fugro.

Currently DCN Global LLC owns fifteen Air Diving Systems and leases one Saturation Diving System from DCN Diving in the Netherlands. This company is one of the founders of DCN Global. A few years ago the current management of DCN Diving decided to change its course radically and an imposing  growth was started towards internationalization of its diving services. With success, because since then the order book is continuously well-filled with eye-catching projects. Recently, the company also announced the investment of over Euro 10 million in two new ROVs, a mobile saturation system and additional welding systems.

"DCN Diving will continue operating from Bergen Op Zoom in the Netherlands," explains Managing Director Ton Stuifzand who is very pleased that Fugro Subsea ME will continue to work closely with DCN Diving on the many initiatives already taken place and on future projects where there is mutual benefit to clients across the globe. "Some years ago it has been decided to turn DCN Diving into an operational diving company. Meaning the company does not run its own vessels, because we have no desire to be a boat operator. Whenever necessary we charter the support vessels we need. Diving is our core business, but we attach considerable importance to delivering added value in the form of engineering. Selling our share in DCN Global gives us the opportunity to fully concentrate on the further expansion and strengthening of our market position in the international oil and gas sector as well as wind energy. And above all we are focusing especially on the hyperbaric underwater repair work."

The products and services herein described in this press release are not endorsed by The Maritime Executive.