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Fugro acquires geotechnical service provider

The Netherlands: Fugro, earth’s surface and sub-surface data collection and interpretation service provider, has reached agreement with Reef Subsea AS to acquire Bluestone Offshore Pte Ltd and its subsidiaries. Bluestone also provides laboratory and engineering services in their office in Singapore. The office will be consolidated into Fugro’s existing operations in Singapore.

One the other hand, Reef Subsea announced that, following Board of Director approval, the company has decided to divest from Bluestone Offshore Pte Ltd in Singapore. Mark Preece, Reef Subsea Chief Executive Officer, said: “Following the decision to concentrate our strategy around subsea services, we decided to divest from the geotechnical market.”

“We think that Bluestone Offshore and Geolab Services management, employees and assets will derive a more robust future in a company which is a long-term player in the global geotechnical market. This divestment will provide Reef Subsea with additional resources to further pursue its developements in the global subsea market. Our presence in Asia-Pacific will be assured by our new Scanmudring office of Singapore,” Preece added.

Source: Fugro & Reef Subsea