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.
Tampnet has performed well in the year, 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 are confident that they will see an acceleration of the short-term penetration of Digitisation projects.
3i Infrastructure acquired 50% of Tampnet in March 2019 alongside Danish pension fund ATP, having committed to invest in July 2018.
- Tampnet’s fibre optic links provide customers with mission-critical reliable communications
- Benefits from the growing requirement for high bandwidth and low latency in data networks
- More than 50 customers including oil and gas operators, offshore service providers and telecom operators
- Opportunity to grow into new segments such as offshore wind, commercial vessels and the point-to-point carrier segment
Tampnet provides digital connectivity for remote customers such as oil and gas platforms, which supports energy security. Tampnet also increasingly provides services in the offshore wind segment which supports the Energy Transition, and is actively targeting the carbon capture and storage sector. To address the low female representation in its sector, the company has launched a “Women in Tech” programme dedicated to attracting female employees, and has public targets to improve the representation of female employees across its business and in management by 2025.Key facts1,200km offshore cable system acquired in 2020>50 customers in multiple sectorsWorld’s largest offshore high-capacity communication network