Nautilus Completes Subsea Fleet Acquisition and Name Change

Nautilus Marine Services PLC, formerly Global Energy Development, said on Thursday it has completed transactions to acquire subsea service vessels.

To remind, earlier this year, the company conditionally agreed to acquire 11 offshore subsea service vessels and a barge vessel as it seeks to adopt a new business strategy focusing on the subsea oilfield services sector.

The acquisitions were effected through the purchase of the entire issued share capital of certain vessel-owning companies. All vessels have been received and inspected and are located at the company’s docking facility in Louisiana, U.S, the company noted.

Nautilus Marine Services will carry out, but will not be limited to, platform and pipeline inspections, underwater welding and burning and other underwater oil support services.

Ex-CEO of Halin Marine and Aubin, John Payne, has been appointed as director of operations.