N-Sea Offshore Ltd (08821499): administration
- Status
- Administration ended
- Administration began
- 2021-06-02
- Administrators
- Chad Griffin, Alexander Iain Fraser
- Administrators' firm
- FRP Advisory
- Incorporated
- 2013-12-19
- Location
- London
- Industry
- 09100 Support activities for petroleum and natural gas mining
Why it went into administration
- COVID-19
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
The Company was incorporated in December 2013 when it acquired the diving division of Stork Technical Services, Aberdeen. It is a wholly owned subsidiary of N-Sea Holding B.V based in the Netherlands.
The Company provided survey and inspection, maintenance and repair CIMR”) services to oil & gas and renewable energy sectors, predominantly in the North Sea. The work was seasonal with most contracts being completed between April to October. There was also trade between the Group companies such as rental of equipment and provision of staff.
It operated from a leased warehouse and an office in Aberdeen, however, certain services such as financing and accounts were carried out at the Group level in the Netherlands. It employed 31 staff including one of the former directors.
Administrators' statement of proposals (2021-08-19) · Companies House register