Deep Ocean Group

What Deep Ocean Group does

DeepOcean is a privately held (Triton-owned), Jersey-incorporated subsea services provider founded in 1999, with operational headquarters in Oslo and a global workforce of approximately 1,800 employees across 16 countries. The company delivers full-lifecycle offshore services — survey, engineering and project management, inspection/maintenance/repair (IMR), subsea installation and cable laying, trenching, decommissioning, and recycling — to major international oil & gas operators (Equinor, Vår Energi, Aker BP, bp, TotalEnergies, Woodside, Diavaz) and offshore wind developers (RWE, Vattenfall, Equinor-Polenergia). Revenue is generated primarily through multi-year frame agreements (e.g., the 8-year 2027–2035 Equinor IMR contract, 5-year Vår Energi IMR, 4-year Vattenfall cable O&M) and project-based fixed-price or unit-rate installation/decommissioning scopes, delivered via a chartered fleet of approximately 20 vessels, 40 ROVs, and 16 trenching assets with onshore Remote Operating Centres at Haugesund's Killingøy and Aberdeen.

The business model is relationship-driven enterprise field sales, organised by regional Managing Directors across Europe, UK, Americas, and Offshore Renewables, with no channel intermediaries. DeepOcean's competitive positioning rests on proprietary technology — the award-winning Autonomous Inspection Drone (AID), the jointly developed USV Challenger uncrewed surface vessel with 30-day endurance, the UT-1 jet trencher, and a digital twin platform — combined with deep operational integration into clients' subsea infrastructure. Recent strategic moves (2024–2026) include taking 100% ownership of the Equinor PRSI pool contract from the TechnipFMC JV, the May 2025 acquisition of Shelf Subsea extending the group into APAC and MENA, the launch of USV Challenger, the chartering of new high-spec vessels (Orient Adventurer, Rem Ocean newbuild for 2027), a €480 million senior secured notes issuance in September 2025, and market entries in Poland and Saudi Arabia.

Name

Deep Ocean Group

Legal name

DeepOcean Ltd

Website

https://deepoceangroup.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

DeepOcean is a Triton-owned global subsea services provider delivering survey, IMR, cable installation, trenching, decommissioning, and recycling to offshore oil & gas operators and offshore wind developers across 16 countries, using a chartered fleet and proprietary remote/autonomous technology.

Ownership category

akta.pro rank

Product category

Offshore Subsea Services

NAICS

Support Activities for Water Transportation (4883), Other Support Activities for Water Transportation (48839), Geophysical Surveying and Mapping Services (54136)

SIC

Oil & Gas Field Services, Nec (1389), Oil & Gas Field Machinery & Equipment (3533)

akta.pro primary industry

Subsea Services & Equipment (Subsea Trees, Umbilicals, Installation, IMR) (EUALABAI)

akta.pro secondary industries

Offshore Marine & Aviation Support (PSVs, AHTS, Crew Boats, Helicopters) (EUALABAJ), Offshore Wind Substructures & Marine Engineering (Monopiles, Jackets, Floating) (EUAMACAE), Cable Route Engineering, Permitting & Marine Survey (Seabed/Environmental) (HDAIALAK)

Keywords

• Subsea services
• Offshore inspection maintenance
• Subsea cable installation
• Offshore decommissioning
• Subsea robotics

Headquarters

HQ city

Haugesund

HQ country

Norway

HQ region

Europe

Offices18 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Subsea Services (Inspection, Maintenance, Repair - IMR): DeepOcean generates the majority of its revenue from subsea IMR services delivered through long-term frame agreements with major energy operators (Equinor, Vår Energi, Aker BP). These multi-year contracts provide a recurring revenue base with call-off work orders. Services are delivered using chartered vessels and the company's extensive subsea tool pool, with engineering and project management provided from onshore offices.
2. Subsea Installation & Construction Services: Revenue from installation and construction projects including cable laying (offshore wind inter-array cables), SIMOPRO (simultaneous marine operations), subsea tie-back installations, and riser replacement. Projects are typically awarded as fixed-price or unit-rate contracts for specific scopes of work. The Nordseecluster A project demonstrates this stream, involving 48 inter-array cables across a 660 MW wind farm.
3. Offshore Decommissioning & Recycling: DeepOcean generates revenue from subsea decommissioning projects including FPSO disconnection, riser/umbilical recovery, subsea infrastructure removal, and recycling. Projects like Foinaven (bp), Gryphon Alpha (TotalEnergies), and FPSO recycling demonstrate this stream. Uses innovative sale-and-purchase commercial models that recover value for clients.
4. Offshore Wind Survey & Trenching Services: Revenue from subsea survey campaigns and cable trenching for offshore wind developers. DeepOcean deploys survey ROVs (Superior SROV), the UT-1 jet trencher, and survey vessels (Edda Flora) for pre-installation surveys, UXO mapping, cable burial, and post-installation monitoring. Contracts with RWE, Vattenfall, and Equinor/Polenergia illustrate this stream.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

DeepOcean delivers full lifecycle subsea services to offshore energy operators, including inspection, maintenance and repair (IMR), cable installation for offshore wind, seabed surveys, subsea tie-back and SIMOPRO installation, and offshore decommissioning and recycling. Services are delivered using a chartered fleet of subsea vessels, ROVs, trenchers, and proprietary technology platforms including the Autonomous Inspection Drone (AID), USV Challenger, and a digital twin platform, with project management and engineering executed from onshore offices across 16 countries.

Product overview

DeepOcean is a world-leading ocean services provider offering full lifecycle subsea services across the offshore energy sector. The company operates a portfolio of specialized services including subsea inspection, maintenance, and repair (IMR), offshore wind cable installation (Nordseecluster projects), survey services, and decommissioning/recycling. The core offering is supported by proprietary technology platforms including the Remote Operating Centre for onshore-based offshore management, the Autonomous Inspection Drone (AID) for autonomous subsea inspections, and a Digital Twin Platform for real-time situational awareness. The company maintains a substantial fleet of chartered subsea vessels (Edda Freya, Edda Flora, Edda Fauna, Orient Adventurer, Olympic Ares, M/S Volantis, USV Challenger) and advanced subsea assets including the UT-1 jet trencher. DeepOcean is also developing next-generation capabilities including the Rem Ocean IMR vessel (due 2027) with remote operations optimization. Services span offshore renewables, oil and gas, ocean minerals, and ocean services industries, with operations managed from offices across Norway, UK, Americas, Africa, APAC, and Middle East.

Differentiator

Problem solved

Functional benefit

Products and services

• Subsea Inspection, Maintenance, and Repair (IMR) Comprehensive subsea IMR services including inspection, survey, intervention, and maintenance operations for offshore oil and gas and renewable energy assets. Delivered through long-term frame agreements with call-off work orders for enterprise energy operators.
• Offshore Wind Cable Installation

Quantifiable outcome

• 90% reduction in CO2 emissions for USV Challenger vs conventional offshore vessels during IMR operations
• +7 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature6 records

Partnerships

Eleven partnerships are on record, tiered core, regional and key.

• Rem OffshorecoreTechnology or Integration · 23 January 2026Rem Offshore is the owner of Rem Ocean, the next-generation IMR vessel chartered to DeepOcean for the 8-year Equinor IMR contract (2027-2035). The vessel design was developed as a collaboration between DeepOcean, Rem Offshore, Skipsteknisk, and other key suppliers. Rem Offshore and DeepOcean have a long history of collaborative subsea vessel design.
• Jana MarineregionalChannel Partner/ Reseller/ Distributor · 4 November 2025Saudi Arabia subsea partnership announced November 2025. DeepOcean and Jana Marine entered a partnership for subsea services in Saudi Arabia, expanding DeepOcean's presence in the Middle East market through Shelf Subsea Solutions KSA.
• USV AS (Solstad Offshore, Østensjø Rederi, DeepOcean Joint Venture)coreStrategic or Co-development Partner · 8 May 2025USV AS is a joint venture company established by DeepOcean, Solstad Offshore, and Østensjø Rederi for the purpose of investing in and owning uncrewed surface vessels (USVs). The JV took delivery of the USV Challenger in May 2025, which will be chartered to DeepOcean for subsea survey, IMR, and installation operations. The vessel is remotely controlled from DeepOcean's operations centre at Killingøy, Haugesund.
• MEWOregionalImplementation/ SI/ Consulting Partner · 30 January 2025Polish survey company serving as subcontractor to DeepOcean for UXO (unexploded ordnance) surveys on the Bałtyk 2 and 3 offshore wind developments in Poland. MEWO utilized the vessel Amber Cecilia for UXO survey work.
• Østensjø RederikeyChannel Partner/ Reseller/ Distributor · 21 January 2025Owner of Edda Freya, Edda Flora, and Edda Fauna vessels, all chartered to DeepOcean. Edda Freya (through 2026, with options) and Edda Flora (through 2026) are extended, and Edda Fauna through 2027 with options. Østensjø Rederi has been a partner of DeepOcean since its inception. Edda Freya was designed in collaboration with DeepOcean prior to its 2016 delivery.
• Dong Fang Offshore (DFO)keyChannel Partner/ Reseller/ Distributor · 8 January 2025Owner of the subsea vessel Orient Adventurer, chartered to DeepOcean from early 2026 through end of 2027 (with options for up to four additional years). The vessel features a 250-tonnes crane, vertical lay system (VLS) with 275-tonne capacity, and two ROVs in hangars.
• TechnipFMCkeyStrategic or Co-development Partner · 19 December 2024Former joint venture partner in the PRSI Pool Services (pipeline repair and subsea intervention) contract with Equinor. DeepOcean has taken 100% ownership of this contract, formerly operated as a JV with TechnipFMC since 2014. 26 JV employees transferred to DeepOcean as part of the transaction.
• EXCEEDkeyStrategic or Co-development Partner · 12 November 2024Collaboration agreement to supply vessel-based well plug and abandonment (P&A) services to the global decommissioning market. DeepOcean contributes subsea engineering competence and fleet of WROVs and subsea vessels; EXCEED contributes specialist well decommissioning expertise. The partnership has completed a multi-well vessel-based P&A campaign for Serica Energy achieving significant time, cost, and CO2 savings vs rig-based P&A.
• Teranga Oil and Gas Services SARLregionalStrategic or Co-development Partner · 19 June 2024Local partner in Senegal for the Woodside Energy Sangomar field IMR project. Teranga Oil and Gas is a local Senegalese service company committed to delivering innovative and quality services in compliance with local laws and regulations. Partnership is structured through DeepOcean subsidiary Searov Offshore SAS working with the Séte, France office.
• Argus Remote SystemscoreTechnology or Integration · 6 May 2024Strategic partnership for the Autonomous Inspection Drone (AID) project. Argus Remote Systems is responsible for the AID platform and navigation algorithm. The AID is based on Argus's Rover MK2 ROV platform with upgraded hardware and software developed jointly.
• VaarstcoreTechnology or Integration · 6 May 2024Technology partner in the AID project responsible for the machine vision camera 'Subslam 2x' enabling autonomous navigation and data collection for subsea inspection operations.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Saipem: Italian offshore engineering and construction contractor active in subsea pipelay, umbilical/riser installation and offshore wind. Comparable to DeepOcean in offshore installation campaigns (cables, umbilicals, tie-backs) for oil & gas and renewables.
• Oceaneering International: US-listed provider of engineered services and products, including ROV operations, subsea intervention, tooling, and offshore cable lay solutions. Closely comparable in ROV-based IMR, tooling and intervention services to DeepOcean's core offering.
• Subsea7: Global subsea contractor delivering SURF (subsea, umbilicals, risers, flowlines) and IMR services for offshore oil & gas and renewables. The most direct global peer to DeepOcean in subsea installation, IMR and offshore wind cable lay.
• DOF Subsea: Norway-based subsea IMR, installation, survey and ROV operator with a global vessel fleet. Most direct North Sea and APAC subsea IMR peer to DeepOcean, with comparable vessel and ROV operating model.
• Helix Energy Solutions Group: Provider of subsea robotics, well intervention and decommissioning services to the offshore oil & gas industry. Closely overlaps DeepOcean in subsea IMR, intervention, and decommissioning (FPSO/well plug and abandonment) work.

Broad incumbents

• TechnipFMC: Global subsea integrated services and equipment provider, formerly DeepOcean's JV partner in the PRSI Pool Services contract with Equinor. Comparable in subsea intervention, IMR and SURF, but with a much broader portfolio across subsea trees, manifolds and umbilicals.
• Aker Solutions: Norwegian offshore engineering and IMR services provider with strong North Sea presence. Comparable to DeepOcean in subsea IMR and offshore wind services, but with a broader portfolio including subsea production systems and engineering.
• McDermott International: Global offshore engineering, procurement, construction and installation contractor with subsea, SURF and offshore wind capabilities. Comparable to DeepOcean on large-scale subsea installation, but as a broader EPC incumbent.
• Prysmian Group: Global cable manufacturer and installer serving offshore wind and subsea telecom. Partial overlap with DeepOcean's inter-array cable installation and trenching work, particularly on large offshore wind farm projects.

Emerging players

• NKT: European manufacturer and installer of high-voltage subsea power cables for offshore wind interconnectors and arrays. Overlaps DeepOcean's offshore wind cable installation and trenching business at the cable-supply and installation boundary.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/user/deepoceanonline
• LinkedInlinkedin.com/company/deepocean
• Xx.com/deepoceangroup

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Deep Ocean Group