French oil services group Technip SA (EPA:TEC) said today it had agreed to buy Norwegian offshore engineering and services contractor Ingenium AS, without specifying how much it had paid for it.
The target, which is based in Oslo, designs and develops mechanical and electro-hydraulic tools and equipment for the offshore oil and gas industry, as well as provides engineering services for marine operations. It employs 20 engineers in the subsea business.
Through the acquisition, the company adds complementary engineering capabilities and enhances its position in one of its key markets, Technip’s managing director Odd Stromsnes said. The buyer added that it had previously worked on different projects with the Norwegian firm.