We began life in Norway as Stolt Nielsen Seaway, providing divers and remotely operated vehicles to support the exploration that opened up the North Sea in the early 1970s. By 1989 the company had acquired an operating base in Aberdeen, Scotland, and in 1992 we bought Comex Services, a French diving and construction company.
The 1990s was a decade of further expansion, as we moved into both the flexible and rigid flowline markets, and the EPIC (engineering, procurement, installation and commissioning) contracting business. 1997 saw our first significant ultra-deepwater project, off the coast of West Africa, and this was soon followed by a number of acquisitions: Ceanic Corporation of Houston; 49% of NKT Flexibles in Denmark; and engineering and pipelay specialist ETPM in France.
In the year 2000 the company became Stolt Offshore, but rapid expansion was bringing its own problems, and poor management on some projects led to operating losses. A new senior management team joined the organisation in 2003. They immediately set about re-defining the focus of the company onto a tighter segment of the offshore market. The disposal of non-core assets, a new organisational structure, and a turnaround in performance bring us up to the present day – where the company’s new name is designed to reflect the changed realities of ownership, and the positive outlook for the business as a whole.