Overview

Tampnet is the leading independent offshore communications network operator in the North Sea and the Gulf of Mexico. It is headquartered in Norway, with operations in the UK, Scandinavia and the USA.

Tampnet provides high speed, low latency and resilient data connectivity offshore through an established and comprehensive network of fibre optic cables, 4G base stations, and microwave links. It operates across four main business areas: fixed installations, mobile rigs and vessels, roaming for offshore workers and international carriers. The majority of its business involves providing fixed fibre links to oil platforms.

Recent developments 

• Tampnet performed well in the year to 31 March 2023, exceeding budgeted revenue and EBITDA targets thanks to increased offshore activity on the back of improved sentiment in the O&G markets, stronger demand for bandwidth upgrades and an increased focus on energy security by governments in Europe and the US.
• Tampnet is marking good progress on growth projects across the business, including new platform connections in the Gulf of Mexico and the North Sea and in the offshore wind segment. The management is also in discussions with several carbon capture and storage projects in the North Sea which are all located within Tampnet’s existing network.
• The Digitisation proposition offered by Tampnet (combining low latency connectivity with services such as Private Networks) is continuing to prove very popular with customers. The management team is confident that they will see an acceleration of the short-term penetration of Digitisation projects.

Regulatory information 
This transaction involved a recommendation of 3i Investments plc.