Offshore services company Chouest Group has announced the acquisition of Champagne Energy Solutions. The group said the purchase of the offshore decommissioning and plug and abandonment provider marks its first expansion into the sector.
Formerly known as Champagne Energy and Environmental Services, the acquired firm provides diving and pipeline services in the Gulf of America. Chouest Group stated additional strategic acquisitions are expected in the near term.
The integration of the firm into the broader portfolio is intended to deliver end-to-end solutions, including subsea intervention and marine logistics support, the company said.
“We see decommissioning as one of the most important and fastest-growing segments of the offshore energy market,” remarked Dino Chouest, Executive Vice President of Chouest Group. He noted that the addition of the firm allows the group to offer a fully integrated solution by leveraging technical expertise and operational scale.
Chouest Group stated the decommissioning and plug and abandonment market represents a multi-billion-dollar global opportunity over the next decade.
The company noted that leadership and staff at the acquired company will remain in place to ensure continuity for existing projects and customers.
