DeepOcean Group is splitting DeepOcean UK into two entities, including DeepOcean Subsea Cables and a new division dedicated to its seabed intervention and trenching business.
The company said the split will see the existing Cable Lay and Trenching division (DeepOcean CL&T) divided into a seabed intervention unit under a new brand and subsea cable installation specialist DeepOcean Subsea Cables.
DeepOcean Subsea Cables, to be headquartered in Darlington, UK, will focus on continuing to deliver cable installation services, as well as maintenance and repair services. The seabed trenching division will be headquartered at the Port of Blyth.
“DeepOcean is to develop these businesses as standalone units to unlock potential with distinct offerings in an evolving market place, creating value for all stakeholders. We are excited about the future for the new divisions and how they will help DeepOcean Group expand and strengthen its market offering,” said DeepOcean’s CEO, Øyvind Mikaelsen .
The split and the new brand are expected to be finalized this year.