Well Services Firm Archer Enters Wind Sector with Moreld Acquisition
Summary
var ssdl = ssdl || {} ssdl.editorialMetaData = { Country : All, Region : All, company : , sector : Alternative_Energy, industry_sector : Upstream, audience : News, content_type : About the Industry, company_sentiment : Neutral, author : Rocky Teodoro, published_date : 2024-07-04, tag : Company_Mergers_Acquisitions_JVs, longevity : News, content_origin : Rigzone Staff, } Drilling and well services provider Archer Limited is acquiring 100 percent of shares in floating offshore wind solutions provider Moreld Ocean Wind AS (MOW), including a minority stake in US-French technology company Ocergy Inc (OCY). The lightweight floating substructures, developed and designed by OCY, are suited for serial production, as the modules are prefabricated and assembled in ports or yards close to where the wind farm will be operating according to the release. The 50-year-old company employs 5,000 worldwide and operates in over 40 countries, providing sustainable services and innovative technology to optimize its customers’ energy solutions. Its well services division delivers Archer’s top-tier technology for well suspension, plug and abandonment, decommissioning, leak detection, and well imaging globally. Archer’s well specialists leverage the experience and the right tools to improve well delivery, integrity and performance for each well, extending the productive life of vital assets, it said.