The offshore oil and gas industry in the Nordics thrives in the North Sea and Barents Sea, known for its significant reserves and advanced technology. Major players range from energy giants like Equinor to emerging firms focusing on sustainable practices. These companies provide wide-ranging services, from exploration and drilling to refining and supply chain execution. Today, the industry is pivoting towards greener processes and renewable energy investments, reflecting a growing awareness of environmental challenges. Insights reveal that while traditional oil and gas remain crucial, there is a burgeoning interest in supplementary offshore wind projects, highlighting a shift in operational focus.

The investors listed include private equity firms, corporate investors, and venture capitalists primarily headquartered in Norway and Sweden. They range significantly in size, from smaller entities with fewer than 50 employees to major corporations employing over 10,000 staff. Established between 1834 and 2008, their investment strategies reflect a notable shift toward sustainability, with 2024 witnessing 74 total investment deals across diverse sectors, particularly in offshore oil and gas.

Top 16 Offshore Oil and Gas Investors in the Nordics

1. HitecVision

• Website: hitecvision.com
• Type: Private Equity
• Headquarters: Stavanger, Rogaland, Norway
• Founded year: 1985
• Headcount: 51-200
• LinkedIn: hitecvision

HitecVision is a private equity investment firm based in Stavanger, Norway, specializing in the European energy sector. Founded in 1985, the firm focuses on providing institutional capital to energy production and infrastructure projects, with a strong emphasis on sustainability and the energy transition. HitecVision manages private equity funds and collaborates with various stakeholders to drive growth in renewable energy and related industries. Notably, HitecVision has been involved in several significant transactions in the offshore oil and gas context, including the acquisition of Atlantica Tender Drilling in 2011, which is directly related to offshore drilling operations. They also participated in funding rounds for Vår Energi and Sval Energi, both of which are involved in energy production, and provided equity financing to Noreco, a Norwegian energy company. These transactions highlight HitecVision's active role in the offshore oil and gas sector, despite their broader focus on energy sustainability.

2. Equinor

• Website: equinor.com
• Type: Corporate
• Headquarters: Stavanger, Rogaland, Norway
• Founded year: 1972
• Headcount: 10001+
• Number of deals in 2024: 6
• LinkedIn: equinor

Equinor ASA is a public entity based in Stavanger, Norway, operating primarily in the energy sector with a focus on oil, gas, and renewable energy. Founded in 1972, Equinor has grown to become a major player in the global energy market, with over 10,000 employees. The company is committed to sustainability and aims to achieve net-zero emissions by 2050. Equinor has been involved in several significant transactions in the offshore oil and gas sector, including a post-IPO equity investment in Petrobras in December 2017, which highlights their engagement in the oil market. In October 2024, Equinor increased its stake in Ørsted, a company involved in offshore wind energy, demonstrating their interest in offshore projects. Additionally, their participation in the acquisition of Spirit Energy's Norwegian operations and assets further solidifies their role in the offshore oil and gas landscape. Equinor also supports offshore innovation initiatives, such as the £3.5 million program backed by the North of Tyne Combined Authority, showcasing their commitment to advancing technology in the offshore sector.

3. EV Private Equity

• Website: evprivateequity.no
• Type: Private Equity
• Headquarters: Stavanger, Rogaland, Norway
• Founded year: 2002
• Headcount: 11-50
• LinkedIn: evprivateequity

EV Private Equity is an investment firm based in Stavanger, Rogaland, Norway, specializing in energy technology and sustainable investments. Founded in 2002, the firm partners with management teams to enhance business strategies and drive emissions reduction in energy-intensive sectors. Notably, EV Private Equity has made significant investments in companies relevant to the offshore oil and gas industry, including a $10m to $40m investment in Aquaterra Energy, which operates in Aberdeen, Norwich, and Cairo, providing riser systems, offshore structures, and rental equipment to the global oil and gas sector. Additionally, they have been involved in various funding rounds for companies like Energy Drilling and Reach Production Solutions, further showcasing their engagement in the energy sector.

4. EQT Group

• Website: eqtgroup.com
• Type: Private Equity
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1994
• Headcount: 1001-5000
• Number of deals in 2024: 30
• LinkedIn: eqt-partners

EQT Group is a private equity investment firm based in Stockholm, Sweden, founded in 1994. The firm specializes in managing diverse investment portfolios across multiple sectors, including private equity, infrastructure, real estate, growth equity, and venture capital. Among its notable transactions, EQT acquired Aker Solutions in December 2013 for approximately $663 million, a key player in the oil and gas services industry. In October 2012, EQT Infra acquired Tampnet for €202 million, a company recognized for operating the largest offshore high-capacity communication network, which is crucial for offshore oil and gas operations. These transactions reflect EQT's strategic interest in the offshore oil and gas sector, alongside its broader investment activities.

5. Ferd AS

• Website: ferd.no
• Type: Private Equity
• Headquarters: Oslo, Oslo, Norway
• Founded year: 1998
• Headcount: 51-200
• LinkedIn: ferd-as

Ferd AS is a private equity investment company based in Oslo, Norway, founded in 1998. The firm focuses on creating lasting value through diverse business activities, including investment management, real estate development, and support for social entrepreneurs. Ferd AS has a notable presence in the offshore energy sector, having participated in significant transactions such as the acquisition of Aibel, a company specializing in offshore wind and energy services, in a deal valued at approximately 1.5 billion NOK. Additionally, Ferd AS was involved in a post-IPO equity transaction with Petroleum Geo-Services, a key player in the oil and gas industry. Their investment strategy also includes participation in innovative ventures like Wind Catching Systems, which aims to enhance offshore wind technologies. These activities demonstrate Ferd AS's commitment to the offshore energy sector, making them a relevant investor in the offshore oil and gas landscape.

6. Investinor

• Website: investinor.no
• Type: Venture Capital
• Headquarters: Trondheim, Trøndelag, Norway
• Founded year: 2008
• Headcount: 11-50
• Number of deals in 2024: 4
• LinkedIn: investinor

Investinor AS is a venture capital investment company based in Trondheim, Trøndelag, Norway, founded in 2008. It specializes in providing funding to promising startups and companies, helping them grow and achieve market leadership. Investinor collaborates with entrepreneurs and other investors, managing state interests in seed and venture funds. Among its notable transactions, Investinor has invested in Zilift Limited, a UK-based provider of artificial lift solutions for the oil and gas industry, participating in a £4m growth capital investment alongside major players like ConocoPhillips and Chevron Technology Ventures. Additionally, Investinor has been involved in funding rounds for Ace Oil Tools and Ziebel AS, both of which are companies that provide services to the oil and gas sector. These transactions highlight Investinor's commitment to supporting innovation and growth within the offshore oil and gas industry.

7. Norvestor

• Website: norvestor.com
• Type: Private Equity
• Headquarters: Oslo, Oslo, Norway
• Founded year: 1989
• Headcount: 11-50
• Number of deals in 2024: 3
• LinkedIn: norvestor-equity-as

Norvestor is a private equity firm based in Oslo, Norway, founded in 1989. The firm specializes in investment management and advisory services, focusing on partnering with medium-sized Nordic businesses to support their growth and development. Norvestor emphasizes sustainability and invests in various sectors, including IT services and property maintenance. Notably, they have made significant investments in the offshore oil and gas sector, including the acquisition of Read Cased Hole, a Scottish oil & gas intelligence service, in December 2016. This acquisition highlights their engagement in the oil and gas industry, alongside other investments such as Future Production AS and iSURVEY, which further showcase their diverse portfolio and commitment to enhancing operational efficiency in various sectors.

8. Aker Solutions

• Website: akersolutions.com
• Type: Corporate
• Headquarters: Fornebu, Akershus, Norway
• Founded year: 1841
• Headcount: 10001+
• Number of deals in 2024: 1
• LinkedIn: aker-solutions

Aker Solutions ASA is a corporate investor based in Fornebu, Akershus, Norway, specializing in engineering solutions for energy infrastructure. Founded in 1841, the company has a workforce of over 10,000 employees and operates globally, providing integrated services for both low-carbon oil and gas production and renewable energy projects. Aker Solutions has made several strategic acquisitions to bolster its capabilities in the offshore oil and gas sector. Notable transactions include the acquisition of Reinertsen, an oil-services provider, aimed at enhancing service offerings in the oil and gas industry, and the acquisition of Subsea House and SSH Engineering, which are focused on subsea technologies. In 2019, Aker Solutions acquired Principle Power, further expanding its portfolio in energy solutions. The company also acquired Unitech Power Systems in 2022, which specializes in electrical power systems, and Alma Clean Power AS in 2024, indicating a commitment to integrating innovative technologies into its operations. These transactions highlight Aker Solutions' active role in the offshore oil and gas sector, making it a significant player in the industry.

9. Altor Equity Partners

• Website: altor.com
• Type: Private Equity
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2003
• Headcount: 51-200
• Number of deals in 2024: 6
• LinkedIn: altor

Altor Equity Partners is a private equity investment management firm based in Stockholm, Sweden, founded in 2003. The firm specializes in providing consulting services and tailored investment strategies across various sectors, including technology and consumer products. Notably, Altor has made significant investments in the offshore oil and gas industry, including the acquisition of AGR AS, a Norwegian technology-based oil services company, aimed at enhancing its growth through organic development and add-on acquisitions. Additionally, Altor acquired Enhanced Drilling, further solidifying its presence in the oil services sector. These transactions reflect Altor's commitment to operational efficiency and sustainable growth within the offshore oil and gas industry, alongside its broader investment portfolio.

10. Dnv

• Website: dnv.com
• Type: Corporate
• Headquarters: Oslo, Oslo, Norway
• Founded year: 1865
• Headcount: 10001+
• Number of deals in 2024: 4
• LinkedIn: dnvgl

Det Norske Veritas (DNV) is a corporate consulting firm based in Oslo, Norway, founded in 1865. DNV provides a wide range of services including advisory, certification, classification, and cyber security, primarily focusing on industries such as maritime, oil and gas, and renewable energy. In the offshore oil and gas context, DNV has been involved in several significant transactions. Notably, in 2016, DNV acquired a license portfolio from Noreco Norway, which included a 20% interest in the Gohta discovery on the Norwegian Continental Shelf. In 2021, DNV participated in a funding round for ScoutDI, a company focused on drone inspection services, which is relevant to the offshore sector. More recently, in 2023, DNV acquired Åkerblå, gaining full ownership of Ocean Ecology, a consulting firm specializing in marine ecological services, further enhancing their capabilities in the offshore environment. These transactions highlight DNV's active role and investment in the offshore oil and gas industry.

11. Wärtsilä

• Website: wartsila.com
• Type: Corporate
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 1834
• Headcount: 10001+
• LinkedIn: wartsila

Wärtsilä Corporation, founded in 1834 and based in Helsinki, Finland, specializes in innovative technologies and lifecycle solutions for the marine and energy markets. With a workforce of over 10,000 employees, Wärtsilä provides a range of products including power plants and marine engines, emphasizing sustainability and efficiency. The company has made several strategic acquisitions to enhance its position in the offshore oil and gas sector. Notably, in 2011, Wärtsilä acquired Hamworthy, a move aimed at strengthening its offerings in offshore and marine gas applications. Additionally, the acquisition of Vik-Sandvik in 2008 for $169.9 million, which specializes in high-end offshore vessels, further solidified Wärtsilä's commitment to the offshore market. Other acquisitions, such as Eniram and Ships Electronic Services Ltd, while primarily focused on marine technology and services, also contribute to Wärtsilä's overall capabilities in the marine and energy sectors, including offshore applications.

12. Kongsberg Maritime

• Website: kongsberg.com
• Type: Corporate
• Headquarters: Kongsberg, Buskerud, Norway
• Founded year: 1814
• Headcount: 5001-10000
• Number of deals in 2024: 1
• LinkedIn: kongsberg-maritime

Kongsberg Maritime, a subsidiary of Kongsberg Gruppen ASA, is a technology provider based in Kongsberg, Norway, specializing in advanced solutions across various sectors, including maritime and digital technologies. Founded in 1814, Kongsberg has a long history of innovation and collaboration with stakeholders to enhance safety and operational efficiency. In recent years, Kongsberg Maritime has made strategic acquisitions to bolster its capabilities in the maritime industry, particularly in areas relevant to offshore oil and gas. Notably, the acquisition of Naxys Technologies in January 2024 positions Kongsberg as a leader in underwater environmental monitoring, specifically for detecting oil and gas leaks. This acquisition complements their existing portfolio and aligns with their commitment to sustainable practices. Additionally, Kongsberg's acquisition of GeoAcoustics Ltd. in 2008, which focuses on underwater acoustics technology, further enhances their offerings in the maritime sector, making them a relevant player in the offshore oil and gas industry.

13. Fearnley Securities

• Website: fearnleysecurities.no
• Type: Corporate
• Headquarters: Oslo, Oslo, Norway
• Founded year: 1869
• Headcount: 51-200
• LinkedIn: ?originalSubdomain=in

Fearnley Securities AS is a financial services company based in Oslo, Norway, specializing in investment banking, equity and credit research, and project finance. Founded in 1869, the firm serves both public and private companies, particularly in the maritime, offshore, and energy sectors. Fearnley Securities has been involved in several notable transactions, including funding rounds for SeaBird Exploration PLC and Seaway 7, both of which are significant players in the offshore oil and gas industry. These transactions highlight the firm's commitment to supporting growth and capitalizing on market opportunities within the offshore sector, reinforcing its role as a key advisor and financier in this space.

14. Herkules Capital

• Website: herkulescapital.no
• Type: Private Equity
• Headquarters: Oslo, Oslo, Norway
• Founded year: 2002
• Headcount: 11-50
• LinkedIn: herkules-capital

Herkules Capital is a private equity firm based in Oslo, Norway, founded in 2002. The firm specializes in managing investments in established companies with strong growth potential across various sectors, including energy, consumer goods, healthcare, services, and industrial technology. Notably, Herkules Capital has been involved in several transactions within the offshore oil and gas context, such as their investments in Aibel, a company that provides services to the oil and gas industry, and Petroleum Technology Company, which they acquired in 2013. These transactions highlight their engagement with firms that are integral to the offshore oil and gas sector, showcasing their capability and interest in this industry.

15. Reiten & Co

• Website: reitenco.com
• Type: Private Equity
• Headquarters: Oslo, Oslo, Norway
• Founded year: 1992
• Headcount: 11-50
• LinkedIn: reiten-&-co

Reiten & Co is a private equity investment firm based in Oslo, Norway, founded in 1992. The firm specializes in private equity and investment management, focusing on developing Nordic companies by providing them with capital and strategic support to enhance their growth potential. While their clientele primarily consists of businesses in sectors such as environmental services and healthcare, they have also made significant investments in the oil and gas industry. Notably, Reiten & Co acquired Moss Maritime in 2000, a company involved in maritime engineering and services for the oil and gas sector. Additionally, in 2012, they acquired a majority stake in Competentia, a consultancy that provides services to the oil and gas industry, further demonstrating their engagement in this sector. These transactions highlight Reiten & Co's capability and interest in the offshore oil and gas market, despite their broader investment strategy.

16. Dno Asa

• Website: dno.no
• Type: Corporate
• Headquarters: Oslo, Oslo, Norway
• Founded year: 1971
• Headcount: 1001-5000
• LinkedIn: dno

DNO ASA is a Norwegian oil and gas company founded in 1971, headquartered in Oslo, Norway. The company specializes in the exploration and production of oil and gas resources, operating in key regions such as the Kurdistan region of Iraq, Norway, and Yemen. DNO ASA is actively involved in various stages of oil and gas development, ensuring a steady supply of energy resources to businesses and governments. Notably, DNO ASA has made significant strides in expanding its offshore portfolio, including the acquisition of a 100% stake in the Tunisian offshore fields from Serica Energy for $50 million in 2013. This strategic move marked DNO's entry into the North African offshore market. Furthermore, the company has recently announced its intention to acquire Sval Energi Group AS for $450 million, which will enhance its North Sea portfolio, demonstrating its ongoing commitment to offshore oil and gas operations.

Offshore Oil and Gas Insights: Key Investors in the Nordics

Want to find more investors focusing on the offshore oil and gas industry?

With Inven, you'll also get to know:

• Deal History: Number of deals and their sizes.
• Portfolio: Companies they've invested in.
• Contact data: Key dealmakers, including their emails and phonenumbers.
• ...and much more!