Aquaterra Energy Changes Hands as Management Takes Ownership

Aquaterra Energy has announced a change in ownership, with its existing management team taking ownership of the offshore engineering business, backed by HSBC.

The transaction would maintain continuity in its leadership and strategy while supporting further investment in offshore well access and field development technologies, according to Aquaterra.

The Norwich-headquartered has secured substantial backing from HSBC, although the company did not disclose the financial terms of the ownership transaction or identify its previous owners.

The company plans to continue investing in its personnel, engineering capabilities and technologies, while exploring opportunities to expand geographically and into energy transition markets, including carbon capture and storage (CCS).

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