OneSubsea to acquire Envirex Group's subsea business

OneSubsea's $350 million acquisition of Envirex Group's subsea business immediately integrates advanced subsea processing and well intervention technologies into its portfolio. This strategic move by the global subsea technology and services provider expands its integrated solutions, directly strengthening its market position across North Sea and West African deepwater operations. The transaction, announced on 2026-03-13, enhances OneSubsea's core offering by adding specific technological capabilities. This consolidation, involving a business located in Norway, supports OneSubsea's drive towards more comprehensive, end-to-end solutions for deepwater oil & gas projects in key regions. OneSubsea, formed in 2023 as a joint venture between SLB (70%) and Aker Solutions (30%) with over 11,000 employees, is actively building out its integrated subsea production capabilities. This $350 million acquisition represents a clear inorganic growth strategy for the relatively new entity. Conversely, Singapore-based Envirex Group, a leading provider of environmental infrastructure solutions specializing in water treatment and renewable energy, is divesting a non-core asset. This sale of its subsea business allows Envirex Group to sharpen its focus on its core specializations, including waste management and renewable energy projects. The transaction sees Envirex Group exiting the oil & gas subsea sector, a departure from its main environmental infrastructure mandate. This divestment could free up capital for Envirex Group's further investment in its core water, waste, and renewable energy segments.