NorSea acquires base properties in Kristiansund

After owning half of Vikan Næringspark Invest AS, NorSea is now buying out the remaining shares from Kristiansund Baseselskap AS.

Through one of its real estate companies, Vestbase Eiendom AS, NorSea thus becomes the sole owner of the largest real estate company in Vestbase.

Significant investment in the Kristiansund region

– This is an important strategic decision on our part, and a clear signal of our faith in our business in Kristiansund. This investment strengthens our opportunities to further develop Vestbase’s unique position as the region’s center for maritime industries in the years to come, says John Stangeland, CEO of NorSea.

– In addition to operating the base and supply activity at Vestbase, NorSea has been a co-owner of the properties and infrastructure here since the early 1990s. This has been a good journey with local partners, and when they now choose to exit, we are pleased with having this opportunity to solidify our ambitions in the region, says Stangeland.

Satisfied mayor

NorSea’s focus on local value creation, longevity and strengthening the activity in Kristiansund, is also appreciated by the local authorities:

– First and foremost, I would like to congratulate NorSea on acquiring 100 % ownership in Vikan Business Park. NorSea has been a very important player for many years in building up the oil and gas business in Kristiansund. I am very pleased to hear that NorSea has great ambitions in Kristiansund for the years to come. Both to continue to be a good supplier to the oil and gas industry, but also that they want to restructure the base to also take a position in relation to the green shift. Both I as mayor and Kristiansund municipality look forward to continuing the good cooperation with NorSea in the years to come, says Kristiansund mayor Kjell Neergaard.

Investment in further business development and local value creation

The real estate investment in Kristiansund also underlines NorSea’s long-term plans to further develop the supply base into a broader and more differentiated business park.

– This is first and foremost a strategic investment which facilitates the further development of Vestbase’s unique position and location to serve the oil and gas industry for a long time to come – while we at the same time will develop the infrastructure and facilitate other maritime industries and associated service industries, says Alf Dahl, Group CFO of NorSea and chairman of the board of NorSea Property AS – the real estate division in NorSea and the owner company of Vestbase Eiendom AS.

– We are talking about a significant acquisition for NorSea – a transaction of several hundred million kroner – but first and foremost a long-term investment that underlines our willingness to develop our activity in the Kristiansund region in the years to come, Dahl continues.

The long-term perspective is also underlined by Øyvind Bjørnevik, CEO of NorSea Property.

– NorSea has big ambitions for Vestbase. We will continue to be the good supplier and partner to the oil and gas industry we have been for several decades, while actively working to transform the base into a broader industrial park with additional business in other emerging industries. Together with our owners and other partners, we are exploring business opportunities in e.g. offshore wind, ocean space, hydrogen and marine minerals at our bases. The goal is for Vestbase to have significant operations in a number of maritime-oriented industries in a few years’ time, and with this acquisition we are laying an important part of the foundation for the success of such an ambition.

– This further development of Vestbase into an attractive business park for various industries, will help to ensure continued value creation, jobs and local ripple effects for new generations – for several decades to come, Bjørnevik concludes.

From left: Øyvind Bjørnevik (CEO in NorSea Property) and Alf Dahl (Group CFO of NorSea & chairman of the board in NorSea Property)