Halliburton agrees to Acquire Optime Subsea

This strategic acquisition will bring Optime Subsea’s umbilical less technology into Halliburton’s Testing and Subsea division and provide Optime Subsea access to global markets and resources for further technology development. The transaction is anticipated to close in early 2025, subject to regulatory approval and other customary closing conditions.

Jan-Fredrik Carlsen, CEO of Optime Subsea, said, “This announcement marks a significant milestone for both Optime Subsea and the Norwegian subsea industry’s position in the global market. The agreement is a validation of our journey as a company, from a local startup to a leader in subsea technology. We are proud of our roots and the strong commitment of our employees, who have made this success possible. This is a fantastic opportunity to join Halliburton and contribute to further growth and development.”

Founded in 2015, Optime Subsea delivers offshore technology that disrupts conventional methods and sets new standards for efficiency and safety. Optime Subsea invents and supplies technologies and services within subsea intervention, well completion, and well control. Optime Subsea’s offerings simplify complex subsea operations, enhance operational efficiency and reduce risks.

Richard Broad, Vice President of Halliburton Testing and Subsea, said, “Optime Subsea's pioneering technology provides numerous benefits compared to traditional hydraulic umbilicals, and complements our existing portfolio of proven and innovative solutions in subsea intervention and well construction. The pending acquisition of Optime Subsea is expected to advance our subsea oil and gas value chain and is part of our strategy to maximize asset value for our customers through modular, scalable, and universal solutions.”

Commenting on the significance of this announcement for the region, Carlsen said, “Halliburton’s pending acquisition of Optime Subsea is a testament to the world-class expertise found in Norway’s subsea technology sector and demonstrates the region’s leadership as an innovation hub for the oil and gas industry. We have always had a strong foundation in Notodden and Kongsberg, and we anticipate significant growth at both locations through increased access to the international market. We look forward to continued collaboration with the local community and the industry.”