Subsea Equipment Specialist Invests In New Technology

Global subsea equipment specialist, Ashtead Technology, has invested $3.8 million (GBP 2.8 million) in new technology over the past month in response to anticipated market demand.

The company said it has stocked up on core survey, imaging, mapping and positioning systems from a range of industry suppliers in order to ‘fully support customer projects’.

“Prevailing market conditions are driving a greater willingness to explore new ways of doing things, however the cost of purchasing new technology can be beyond the reach for many firms,” Allan Pirie, CEO of Ashtead Technology, said in a company statement.

“Equipment rental is the perfect model to trial and get comfortable with new technology. We are committed to investing in the latest technology to solve specific industry challenges and ensure underwater projects are delivered as cost efficiently as possible,” he added.

Following the completion of its joint venture with Forum Energy Technologies earlier this year, Ashtead Technology now contains a fleet of 19,000 assets, worth in excess of $138 million (GBP 100 million), supported by 120 staff from its facilities in Aberdeen, Abu Dhabi, London, Houston and Singapore.


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