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.

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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 outperformed expectations in the year, generating a value gain of     £32 million. It exceeded both revenue and EBITDA targets, driven by increased offshore activity, particularly in the Gulf of Mexico, and ongoing demand for bandwidth upgrades. 

Tampnet is experiencing growing demand for connectivity as AI and digitalisation drive increased bandwidth requirements, alongside a heightened focus on crew welfare solutions. The company has partnered with Armada to deliver edge data centres and advanced AI-driven applications to its offshore customers. 

Tampnet’s private networks business continues to grow, with 19 private networks already installed. The company is encouraged by the strong momentum in this segment and is actively working with several customers to design technical connectivity solutions for carbon sequestration projects within its existing network in the North Sea.