Odfjell Technology to acquire 70% stakes in Kaseum, Razor Oiltools

Odfjell Technology entered into agreements to acquire a 70% ownership interest in two service companies that support lightweight intervention and plug and abandonment (P&A) operations.

Under the terms of the agreements, Odfjell Technology will take majority stakes in Kaseum Holdings and Razor Oiltools, both of which bring specialist equipment and personnel focused on subsea intervention and P&A services.

The acquisitions are intended to enhance Odfjell Technology’s capability offering in the evolving North Sea and global decommissioning markets by integrating lightweight intervention and P&A solutions within its broader portfolio of offshore operational services.