Norwegian Offshore Rental (NOR), a prominent provider of offshore equipment rental services, announced earlier this year its strategic expansion into the Asia-Pacific (APAC) market through the acquisition of Clockwise Subsea. This move aims to enhance NOR’s service offerings and establish a significant presence in the region.
Clockwise Subsea operates in Singapore, Malaysia, and India, delivering specialized marine equipment solutions to sectors including civil, marine, renewable energy, and oil & gas. The integration of Clockwise Subsea’s regional expertise with NOR’s extensive experience is set to provide comprehensive solutions tailored to the evolving demands of the global offshore industry.
Tore Gautesen, CEO of NOR, emphasized the strategic importance of this acquisition:
“As part of this strategic move, NOR will be making a significant investment in Survey and Robotics in the region to enhance the group’s rental pool and service offerings,” Tore Gautesen says in a press release about the acquisition.
Deon Brand, General Manager of Clockwise Subsea, expressed likewise enthusiasm about the partnership:
“By joining forces, NOR demonstrates their faith in our team’s ability to deliver significant growth for NOR in the region. We’re excited at the prospect of offering our clients access to a greater pool of equipment, a more comprehensive suite of services, and improved project execution, ultimately driving greater value whilst maintaining our shared customer-focused mentality,” Dean Brand is quoted.
As part of the expansion strategy, NOR plans to establish premises in Australia early this year, with additional strategic locations under consideration. This development underscores NOR’s commitment to supporting the growth of the offshore wind and marine energy sectors in the APAC region.
The acquisition of Clockwise Subsea marks a significant milestone in NOR’s global growth strategy, positioning the company to better serve its clients with enhanced resources and localized expertise across the Asia-Pacific market.
