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.

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Overview

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.

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 performed extremely well in the year, generating a value gain of £54 million. It exceeded revenue and EBITDA targets, driven by increased offshore activity and stronger demand for bandwidth upgrades.

Tampnet is continuing to expand its network infrastructure by pursuing new fibre projects in both the North Sea and the Gulf of Mexico. Notably, Tampnet secured significant new contracts in these regions.

Digitalisation of the offshore energy sector is gaining momentum and Tampnet’s digitisation proposition, which combines low-latency connectivity with services such as private networks, is generating considerable interest.

Tampnet’s private networks offer a secure, closed 4G/5G system deployed on offshore platforms, providing robust connectivity and enhanced security compared to traditional Wi-Fi solutions.

Furthermore, Tampnet is actively engaged in carbon capture and offshore wind projects within its existing network in the North Sea. The business was awarded its first offshore carbon sequestration connection in March 2024. The potential for further comparable initiatives is substantial and Tampnet is strategically positioned to contribute to their success.