Wilhelmsen has increased its stake in NorSea, securing 99 percent ownership in the Norwegian company.

NorSea Dusavik base, Stavanger, Norway. Credit NorSea

Wilhelmsen first acquired shares in NorSea in 2012. This latest transaction has seen former partners Eidesvik Eiendomsinvest and Simon Møkster Eiendom each sell their shareholdings of around 12 percent, with NorSea employees retaining the remaining 1 percent of shares.

Wilhelmsen group ceo, Thomas Wilhelmsen, said: “Our partnership with NorSea and other shareholders has developed and strengthened over many years, across numerous projects, joint ventures, and indeed shared ambitions… The latest transaction demonstrates our continued belief in the competence and values of the company and supports the Wilhelmsen group’s long-term strategy towards the supply base industry and other exciting ventures in the ocean space.” 

Jan Eyvin Wang, executive vice president of the New Energy division at Wilhelmsen, added: “We are already well organised to take on exciting initiatives supporting the green shift. Wilhelmsen’s increased ownership of NorSea will be a catalyst to ensure that we continue to build a sustainable supply chain for the oil and gas industry, as well as expand our business portfolio into new activities that support the energy transition.”