Oceaneering International, Det Norske Veritas join forces

Oceaneering International Inc. said its Norwegian subsidiary, Oceaneering AS, signed a joint venture agreement with Det Norske Veritas to provide subsea inspection services. The 50:50 joint venture company, Argus RTM AS, will be based in Stavanger, Norway


By the OGJ Online Staff

HOUSTON, May 30 -- Oceaneering International Inc. said its Norwegian subsidiary, Oceaneering AS, signed a joint venture agreement with Det Norske Veritas to provide inspection services for the offshore industry.

The 50:50 joint venture company, Argus RTM AS, will be based in Stavanger, Norway. It will use remote-operated vehicles and resonance thickness measurement technology to help customers ensure the integrity of vessels and offshore structures.

A Norwegian shipping and classification bureau, DNV has an exclusive license to technology that permits underwater inspections without the need to remove marine growth. Oceaneering has expertise in designing, building, and operating remote-operated vehicle systems.

Oceaneering will provide $3.5 million in initial capital.

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