The transaction is expected to close before the end of 2024, according to OEG. (Source: Shutterstock)
Scotland offshore contractor OEG Energy Group announced Nov. 20 it had signed a sale and purchase agreement for Bluestream Offshore, a specialist in the subsea and topside services for an undisclosed amount.
Bluestream, based in Den Helder in the Netherlands, has a turnover of more than €65 million (U.S. $71.1 MM) and employs 55 people and more than 300 offshore subsea and topside specialist.
The move provides OEG with a larger operating footprint in an expanding offshore renewable energy market in Europe. The EU has set a goal of doubling its current installed capacity by 2030.
Bluestream will retain its brand and become a subsidiary of OEG renewables. The transaction is expected to close before the end of 2024, according to OEG.
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