Paratus Energy Services Ltd.
Paratus Energy Services Ltd. is a company registered in Bermuda under registration number 53451, incorporated on 14 March 2018 as Seadrill New Finance Limited. The company was renamed Paratus Energy Services Ltd. in January 2022, following the confirmation of Seadrill’s Chapter 11 restructuring plan by the US Bankruptcy Court for the Southern District of Texas. Its registered office is in Hamilton, Bermuda, and the company remains listed as active.
Paratus Energy Services Ltd. operates as an investment holding company for offshore energy service businesses. It previously wholly owned Fontis Energy (formerly the SeaMex joint venture), which operated five high-specification jack-up drilling rigs under contract in Mexico; Paratus announced the sale of Fontis Energy’s fleet and Mexican operations on 23 March 2026 and completed the transaction on 29 July 2026 for a reported $400 million consideration, ending that line of business. The company retains a 50% joint-venture interest in Seagems (renamed in 2024 from Seabras), a subsea-services venture that operates six multipurpose pipe-laying support vessels under long-term contracts with Petrobras in Brazil. Paratus also previously held a minority equity stake, reported at approximately 23.8%, in the Oslo-listed oilfield-services company Archer Limited; this stake was fully divested through a secondary share sale completed in September 2025.
Paratus Energy Services Ltd.’s shares were admitted to trading on Euronext Growth Oslo on 28 June 2024 under the ticker PLSV (ISIN BMG6904D1083), and the company was uplisted to the main Oslo Børs market, operated by Euronext, effective 13 November 2024, trading under the same ticker.
- Company fundamentals
- Corporate linkage & group structures
- Digitized company financials
- Firmographics — websites, social profiles, revenue and employee estimates
Shareholders
Shareholders of Paratus Energy Services Ltd.
Paratus Energy Services Ltd. is listed on Euronext Oslo Børs, where shareholder disclosure follows Norwegian securities-law flagging rules: holders are required to notify the market only when their stake crosses 5%, 10%, 15% and higher thresholds, rather than the full shareholder base being published in a single register. Based on flagging notifications and share-register aggregator data (VPS-sourced), the company’s own treasury holding is reported at approximately 4.0% of issued shares (6,815,000 shares). Melqart Asset Management (UK) Ltd., acting as investment manager for the Melqart Opportunities Master Fund and related vehicles, has disclosed holdings fluctuating around the notification threshold, reported at roughly 3.27% of voting rights as of early March and rising to approximately 7.37% (12,607,360 shares) by late June, in filings that do not specify the year within the source consulted. Other identifiable institutional holders in aggregator data include Fondsfinans Kapitalforvaltning AS (approximately 1.3%), H&P Capital Advisors GmbH (approximately 0.43%), Danske Bank A/S Investment Management Norway (approximately 0.36%), Pensum Asset Management S.A. (approximately 0.29%) and Arctic Asset Management AS (approximately 0.29%). Separately, financial-media reporting tied to Paratus’s 2024 Oslo listing identifies Hemen Investments Limited, linked to trusts established by John Fredriksen for his family, as the company’s largest shareholder, with an economic ownership expected at approximately 32% following a 2024 transaction; that figure could not be cross-checked in this review against a dated flagging notice, so it is reported here as sourced rather than independently recalculated. A large majority of the share register, reported at roughly 89-90% in aggregator data, is held through nominee or street-name accounts and cannot be attributed to named beneficial owners from public sources.
Data availability
Major shareholders only: Oslo Børs / Norwegian flagging rules make only threshold-crossing holdings and treasury shares publicly identifiable; the remainder of the register, including smaller retail and nominee holdings, is not itemised in public sources. No shareholder or ownership-chain information met this review’s bar for a verified ultimate-beneficial-owner calculation, so no UBO figure is presented.
Sources
- Paratus Energy Services Ltd., Investor relations, https://www.paratus-energy.com/investor-relations, retrieved 2026-09-14
- MFN.se, PLSV: Major Shareholding Notification, https://www.mfn.se/ob/a/paratus-energy-services/plsv-major-shareholding-notification-ae54acd1, retrieved 2026-09-14
- MarketScreener, Paratus Energy Services Ltd. – Shareholders, Shareholding Structure, https://www.marketscreener.com/quote/stock/PARATUS-ENERGY-SERVICES-L-197307660/company-shareholders/, retrieved 2026-09-14
- Splash247, Paratus Energy raises $75m ahead of Oslo listing, https://splash247.com/paratus-energy-raises-75m-ahead-of-oslo-listing/, retrieved 2026-09-14
Officers
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Directors and officers of Paratus Energy Services Ltd.
As of the company’s 2026 Annual General Meeting, held 12 May 2026, Paratus Energy Services Ltd.’s Board of Directors comprised four members: James Ayers, Joachim Bale, Mark Mey and Dag Skindlo, all re-elected at that meeting. Mark Mey joined the Board on 13 November 2024, at the time of the company’s uplisting to Euronext Oslo Børs. Mei Mei Chow, a director since the company’s incorporation in 2018, was not re-elected and left the Board on 12 May 2026. Executive management, per the company’s own disclosure, comprises Baton Haxhimehmedi (Group Chief Financial Officer and Interim Chief Executive Officer), Nika Hasanova (Chief Accounting Officer) and Rogerio Salbego (Chief Executive Officer of Seagems, the group’s 50%-owned joint venture, a role distinct from an officer position at the Bermuda parent entity). On-file registry data additionally names James Ayers as "Secretary & Director," consistent with the company’s own listing, and records a further officer tied to the Fontis Energy business, which Paratus divested in a transaction completed 29 July 2026; that appointment should be treated as historical following the divestment.
Bermuda does not operate a publicly searchable officer register comparable to the UK’s Companies House, so officer information for Paratus Energy Services Ltd. is Partial: it is drawn from the company’s own website and stock-exchange announcements rather than a government filing, and appointment or departure dates are available only for events the company has itself disclosed. Nationality and country of residence are not publicly disclosed by the company for its directors or officers and are not inferred here from names or reported locations.
Recent officer changes
- Mark Mey appointed to the Board of Directors effective 13 November 2024, concurrent with the company’s uplisting to Euronext Oslo Børs. Source: Euronext/company announcement.
- James Ayers, Joachim Bale, Mark Mey and Dag Skindlo re-elected as directors at the Annual General Meeting held 12 May 2026. Source: company AGM results notification.
- Mei Mei Chow, a director since the company’s 2018 incorporation, was not re-elected and departed the Board at the 12 May 2026 Annual General Meeting. Source: company AGM results notification.
Data availability
Partial: Bermuda’s registrar does not publish a public officer database; the information above reflects the company’s own governance disclosures and exchange announcements as of the dates cited, and nationality is not disclosed for any director or officer.
Sources
- Paratus Energy Services Ltd., About us, https://www.paratus-energy.com/about, retrieved 2026-09-14
- PR Newswire, Paratus Energy: 2026 AGM Results Notification, https://www.prnewswire.com/news-releases/paratus-energy-2026-agm-results-notification-302770611.html, retrieved 2026-09-14
- Euronext, Paratus Announces Successful Uplisting to Euronext Oslo Børs, Appoints Mark Mey to Board of Directors, https://live.euronext.com/en/products/equities/company-news/2024-11-13-paratus-announces-successful-uplisting-euronext-oslo-bors, retrieved 2026-09-14
Registry feed — rows exactly as filed with Bermuda Monetary Authority / Registrar of Companies, including entries the profile above does not cover.
Group Structure
Group structure of Paratus Energy Services Ltd.
Paratus Energy Services Ltd. is the Bermuda-incorporated holding entity for a small number of offshore-energy service operations rather than an operating company itself. Based on the company’s 2025 Annual Report (published 30 April 2026) and subsequent announcements, its principal retained interest is a 50% joint-venture holding in Seagems (renamed in 2024 from Seabras), which operates six multipurpose pipe-laying support vessels under contract with Petrobras in Brazil. Paratus previously wholly owned Fontis Energy (formerly the SeaMex joint venture), which operated five jack-up drilling rigs in Mexico; the company announced the sale of Fontis Energy’s fleet and Mexican operations on 23 March 2026 and completed that transaction on 29 July 2026 for a reported $400 million, ending the subsidiary relationship. Paratus also previously held a minority, non-controlling equity stake of approximately 23.8% in Oslo-listed Archer Limited; this was an investment holding rather than a subsidiary relationship, and it was fully divested via a secondary share sale completed in September 2025.
Verified corporate relationships
| Entity | Country | Registration number | Relationship | Ownership | Status | Information date |
|---|---|---|---|---|---|---|
| Seagems Joint Venture (formerly Seabras JV) | Brazil (JV, with Sapura/Vantris Energy Berhad) | Not disclosed | Joint venture | 50% | Active | 2025 Annual Report, 30 Apr 2026 |
| Fontis Energy (formerly SeaMex Group) | Mexico | Not disclosed | Former direct subsidiary (divested) | 100% prior to sale | Historical – divested 29 Jul 2026 | 29 Jul 2026 |
| Archer Limited | Norway (Oslo-listed) | Not disclosed | Historical minority equity investment (not a subsidiary) | Approx. 23.8% prior to sale | Historical – divested Sep 2025 | Sep 2025 |
Third-party company-registry data on file also links several UK-registered entities (including Paratus Mobile Units UK Limited, Paratus Seabras UK Limited, Paratus Seabras SP UK Limited, Paratus Management (UK) Limited and Paratus Seadragon UK Limited) and Paratus Management Norway AS to the group, alongside a Mexican entity, Seadrill Seamex 2 de Mexico, S. de R.L. de C.V. These could not be individually cross-checked against the subsidiary note of Paratus’s own Annual Report within this review, so they are not presented above as verified relationships. Their continued presence in the on-file group tree is flagged as a possible data-quality issue: the Mexican entity in particular appears tied to the Fontis Energy/SeaMex jack-up business that Paratus divested on 29 July 2026, and the on-file linkage data (last synced 11 August 2026) may not yet reflect that divestment.
Recent structural changes
- Sale of Fontis Energy’s jack-up rig fleet and Mexican operations: announced 23 March 2026, completed 29 July 2026, for a reported $400 million.
- Secondary sale of Paratus’s approximately 23.8% equity stake in Archer Limited: completed September 2025.
- Rebranding of the Seabras joint venture to Seagems in 2024, alongside new three-year Petrobras contracts with a combined backlog reported at approximately $1.8 billion.
Data availability
Partial: the retained Seagems joint venture and the divestment of the Fontis Energy business are disclosed in the company’s own announcements and Annual Report, but the on-file intermediate UK and Norwegian holding entities have not been individually verified against the Annual Report’s subsidiary note in this review.
Sources
- Paratus Energy Services Ltd., Publication of the 2025 Annual Report, https://www.paratus-energy.com/news/paratus-energy-publication-of-the-2025-annual-report, retrieved 2026-09-14
- Paratus Energy Services Ltd., Announces Sale of its Jack-up Business, https://www.paratus-energy.com/news/paratus-energy-services-ltd-announces-sale-of-its-jack-up-business, retrieved 2026-09-14
- Paratus Energy Services Ltd., About us, https://www.paratus-energy.com/about, retrieved 2026-09-14
Paratus Energy Services Ltd.
Bermuda
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Frequently Asked Questions
What is Paratus Energy Services Ltd.?
Paratus Energy Services Ltd. is a Bermuda-incorporated investment holding company for offshore energy service businesses, best known for its 50% joint-venture interest in Seagems, a subsea pipe-laying services venture operating in Brazil.
Where is Paratus Energy Services Ltd. registered?
Paratus Energy Services Ltd. is registered in Bermuda under registration number 53451, with a registered office in Hamilton, Bermuda. It was incorporated on 14 March 2018.
What was Paratus Energy Services Ltd. previously called?
The company was originally incorporated as Seadrill New Finance Limited and was renamed Paratus Energy Services Ltd. in January 2022, following confirmation of Seadrill's Chapter 11 restructuring plan by the US Bankruptcy Court for the Southern District of Texas.
On which stock exchange is Paratus Energy Services Ltd. listed?
Paratus Energy Services Ltd. trades on Euronext Oslo Børs under ticker PLSV (ISIN BMG6904D1083). Its shares were first admitted to Euronext Growth Oslo on 28 June 2024 and were uplisted to the main Oslo Børs market on 13 November 2024.
What does Paratus Energy Services Ltd. do?
It functions as a holding company for offshore energy service investments. Its principal retained interest is a 50% joint-venture stake in Seagems, which operates six pipe-laying support vessels under contract with Petrobras in Brazil.
Does Paratus Energy Services Ltd. still own the Fontis Energy jack-up rig business?
No. Paratus announced the sale of Fontis Energy's five jack-up rigs and its Mexican operations on 23 March 2026, and the transaction completed on 29 July 2026 for a reported $400 million.
What is Seagems and what is Paratus Energy Services Ltd.'s interest in it?
Seagems (renamed in 2024 from Seabras) is a subsea-services joint venture in which Paratus holds a 50% interest alongside Sapura/Vantris Energy Berhad. It operates six multipurpose pipe-laying support vessels under long-term contracts with Petrobras in Brazil.
Who are the current directors of Paratus Energy Services Ltd.?
As re-elected at the Annual General Meeting held 12 May 2026, the Board comprises James Ayers, Joachim Bale, Mark Mey and Dag Skindlo.
Who leads Paratus Energy Services Ltd.'s management team?
Baton Haxhimehmedi serves as Group Chief Financial Officer and Interim Chief Executive Officer. Nika Hasanova is Chief Accounting Officer, and Rogerio Salbego is Chief Executive Officer of the Seagems joint venture.
Who is the largest shareholder of Paratus Energy Services Ltd.?
Financial-media reporting tied to the company's 2024 Oslo listing identifies Hemen Investments Limited, linked to trusts established by John Fredriksen, as the largest shareholder, with an economic ownership expected at approximately 32% following a 2024 transaction; this figure was not independently recalculated in this review.
Did Paratus Energy Services Ltd. hold a stake in Archer Limited?
Yes. Paratus previously held a minority equity stake of approximately 23.8% in the Oslo-listed oilfield-services company Archer Limited. This was fully divested through a secondary share sale completed in September 2025.
Is Paratus Energy Services Ltd.'s full shareholder register publicly available?
No. As an Oslo Børs-listed company, only holdings that cross Norwegian disclosure thresholds (typically 5% and above) and treasury shares are publicly identifiable; a large majority of the register is held through nominee accounts and is not attributed to named beneficial owners in public sources.
Has Paratus Energy Services Ltd.'s Board changed recently?
Yes. Mark Mey joined the Board on 13 November 2024, and Mei Mei Chow, a director since the company's 2018 incorporation, was not re-elected and left the Board at the 12 May 2026 Annual General Meeting.