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, Netherlands and the USA.

Visit tampnet.com

Overview

Tampnet provides high speed, low latency and resilient data connectivity enabling the digitalisation of offshore industries. Its unique network includes over 5,400km of fibre optic cables, 200 microwave links, 600,000 km2 of 4G/5G coverage and connects to 40 data centres in 12 European and American cities and central hubs.

It operates across four main business areas: fixed installations, mobile rigs and vessels, roaming for offshore workers and international onshore carriers. The majority of its business involves providing fixed fibre links to the offshore energy industry with significant growth coming from emerging digital use-cases and new offshore markets.  

Why we invested

Tampnet’s fibre optic links provide customers with mission-critical reliable communications and the company benefits from the growing requirement for high bandwidth and low latency in data networks. It has more than 50 customers including oil and gas operators, offshore service providers and telecom operators. 

Tampnet also offers the opportunity to grow into new segments such as offshore wind, commercial vessels and the point-to-point carrier segment.

Recent developments

Tampnet delivered performance ahead of expectations, achieving EBITDA outperformance despite challenging conditions in the UK North Sea. Demand for high-capacity connectivity continues to grow, driven by AI-enabled operations, robotics and predictive maintenance.

Tampnet remains the only independent fibre operator in the North Sea and Gulf of Mexico. While these are mature basins, they continue to offer growth opportunities through connecting new exploration sites and providing digitalisation services. The company is also expanding into adjacent offshore markets, including carbon capture. During the year, Tampnet signed a project with Porthos in the Netherlands and is working with other customers on connectivity solutions for planned carbon capture, usage and storage developments.

Fibre remains the preferred backbone for mission-critical offshore connectivity, with low Earth orbit (‘LEO’) solutions emerging as a complementary layer for resilience and non-critical traffic. Tampnet’s integrated fibre and LEO offering supports customer retention, enables upselling and broadens its addressable market. The Private Networks segment continues to grow, with 27 networks installed and contracts secured for a further 22.