Paratus Energy Services Ltd. is an offshore energy services holding company that provides specialized marine infrastructure and support to the oil and gas industry. The company's core asset is a 50% joint venture interest in Seagems (formerly Seabras Sapura), a leading subsea services provider operating a fleet of six multi-purpose pipe-laying support vessels (PLSVs) under long-term contracts with Petrobras in Brazil. These vessels offer subsea engineering, flexible pipe-laying, and construction services essential for offshore energy production. Historically, Paratus also owned Fontis Energy (formerly SeaMex), an offshore drilling contractor operating a fleet of high-specification jack-up rigs in Mexico. However, in 2026, Paratus announced the sale of its drilling operations to become a pure-play PLSV business. The company generates revenue primarily through contract-based day rates for its specialized vessels and subsea services. Originally formed to hold assets separated from Seadrill Limited, Paratus emerged as an independent entity following a restructuring and listed on the Oslo Stock Exchange in 2024.
