4Subsea Acquires Astori

ASKER, Norway, March 19, 2019 /PRNewswire/ --4Subsea, a leading provider of technology and services to oil & gas and offshore wind operators worldwide, reports the acquisition of Astori AS. Astori delivers unique subsea control systems for simplified XT installations that can operate all types of XTs from all main vendors, simplifying and reducing costs of subsea well intervention. 

Acquisition to Strengthen Market Position with Consolidation in Supply Chain

With the inclusion of Astori's technology and expertise into their team, 4Subsea further solidifies its position as an independent vendor helping operators optimise offshore operations with new technology and digital services. 

"With this acquisition we are building upon our strategy of delivering leading-edge monitoring and maintenance services that provide significant business value to operators - all the way from the reservoir to deck. We are pleased to have the excellent team of experts from Astori join us in developing innovative solutions to the industry going forward." 

- Peter Jenkins, CEO of 4Subsea. 

"We are very happy to have reached an agreement with 4Subsea on joining forces to further develop and deploy our control systems for the oil & gas industry. We look forward to working closely with the domain experts in 4Subsea within well operations, sensors and digital services." 

- Tor Mogens Jentoft, CEO of Astori. 

Digital Twins for Prediction Analysis and Improved Decision Support 

4Subsea will investigate the opportunities of further digitising Astori's subsea control modules, in the same way they have developed digital twins for subsea production and drilling. Building on sensor data from both their own and third-party sensors and by using advanced algorithms and machine learning, 4Subsea's domain experts provide a digital service for significantly improved decision support to operators. 

"Our digital services help operators "know it before it happens" - so that they can act accordingly and perform minor repairs and maintenance, without risking replacing expensive equipment or production shutdown." 

- Peter Jenkins, CEO of 4Subsea 

Press Contact: VP Marketing and Communications Berit Lid Scharff, [email protected], +47-9713-9487

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SOURCE 4Subsea