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Rovop reaps £56m reward

Blue Water Energy and BGF investment boost ROV fleet to 24 from 16 

Rovop reaps £56m reward image

Underwater remotely operated vehicle operator Rovop has boosted its fleet by 50% following a £56m cash injection by investors Blue Water Energy and BGF this year.

The funding has enabled the Aberdeen outfit to increase its number of ROVs to 24 from 16 previously, with the potential to create up to 80 jobs.

The new assets have been acquired from Tidewater in Houston, Rovop said.

Rovop chief executive Steven Gray said: “This funding package allows an immediate step change for our business, and secures the funding required to execute our growth plans over the coming years – serving our customers better and in more locations around the world.”

The company also announced that Rovop chairman Mark Vorenkamp is to retire.

BGF’s Mike Sibson said: “Rovop has weathered the storm caused by the oil industry downturn by providing the best equipment, the best people, and the best service to customers who need high reliability and efficiency.

“This partnership makes a step change in our ability to meet those customers’ demands.”

Image: Rovop

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