UK’s OEG to Buy Bluestream Offshore

Business & Finance

December 15, 2023, by Adnan Memija

OEG Energy Group (OEG) has signed a Sale and Purchase Agreement (SPA) to acquire Dutch subsea and topside services specialist Bluestream Offshore.

The acquisition is expected to increase OEG’s subsea and topside capabilities while expanding its operating footprint to be able to pursue further opportunities in the growing offshore renewable industry.

Bluestream has a turnover in excess of EUR 50 million executed through an employee base of 55 people and more than 300 offshore subsea and topside specialists.

According to Bluestream, they are skilled in surface-supplied diving, Remotely Operated Vehicles (ROVs), working at height, rope access, and Unmanned Aerial Vehicles (UAV) providing clients with tailored solutions during the installation, maintenance, and decommissioning of their offshore assets.

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Bluestream will retain its brand and operate as a subsidiary within OEG Renewables, expanding the division’s skilled workforce to over 500 people.

The transaction is expected to close in the late fourth quarter of this year. It is the fifth acquisition this year, and the eleventh since OEG began growing OEG Renewables in 2020.

“Becoming part of OEG Group and leveraging its global footprint will help Bluestream increase the value proposition to the offshore energy market. Both OEG and Bluestream share the same values and commitment to provide the highest quality services possible with the health and safety of our colleagues, clients and environment as a core priority,” said Rolf de Vries, Managing Director of Bluestream.