During the recent negotiations for the sale of Subsea 7’s
Drill Rig ROV Support business, an in-depth and detailed investigation was undertaken, which demonstrated a changing
market place and highlighted an opportunity to improve profitability and grow the business to be the global leader in the
provision of Integrated ROV, Survey, DGPS and Remote Technology services. As well as being a Global Leader in the
provision of IRT services to clients directly, the group will work within the framework of Subsea 7 providing all internal
services to the construction arm of the business.
A new global and regional management team, led by Ian Cobban, Vice President, has been created which will focus on this specific business segment. This team has been tasked with growing the business in traditional geographic areas (North Sea, Brazil and Gulf of Mexico) as well as the emerging markets such as West Africa, Middle East, Far East and Mexico.
Ian Cobban, Subsea 7’s Vice President, I.R.T., stated, “With the recent changes in the market place, I see a great future for an independently managed unit focused on the specific market segment, and we look forward to working with all clients to ensure that optimum solutions can be delivered ’.
3 May 2004