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Welcome to FloatingProductionZone.com. This is your source for the most up to date active and forecasted floating production information.
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| Quest's Intelligence Briefs have proven to be a fantastic resource for keeping up to speed with important industry news. To learn more, click here. Check out the headlines from the latest issue below. |
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PROSERV , WEATHERFORD INK AGREEMENT FOR BUSINESS VENTURE |
| Proserv is bolstering its subsea capabilities and specialist integrated services and increasing its workforce by more than 300 people. Proserv, which has operations globally, has agreed terms to assume Weatherford International’s subsea controls’ business, which specializes in subsea and topside communication and control systems and subsea termination equipment for offshore production optimization, control and monitoring to customers around the globe.
The venture will include the 300-plus personnel who form Weatherford’s subsea controls business and all subsea control systems operations in the UK, Norway, North America, Middle East and Far East. In the deal, Proserv will acquire the business assets, and Weatherford’s existing subsea controls management will continue to run the day-to-day operations as part of the Proserv organization. In return, Weatherford will acquire common and preferred equity in Proserv and will hav... |
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