Oceaneering to Acquire Norse Cutting & Abandonment AS for $60M

Oceaneering International, Inc. OII announced it has entered into a definitive purchase agreement to acquire Norse Cutting & Abandonment AS, for approximately $60 million. The purchase is expected to close by March 31, 2011.

NCA is an oilfield technology company that specializes in providing subsea tooling services used in the plugging, abandonment, and decommissioning of offshore oil and gas production platforms and subsea wellheads.