Global Lease Agreement with Oceaneering

6 November 2018

Leading independent provider of subsea equipment rental, sales and services to the offshore industry Ashtead Technology Limited (“Ashtead”) has today (6 November, 2018) announced that it has secured a global master lease agreement with a wholly-owned subsidiary of global oilfield services provider, Oceaneering International Inc., (“Oceaneering”).

The agreement will see Ashtead offer Oceaneering’s range of ROV tools and systems for rental from its facilities in Aberdeen, Abu Dhabi, Houston and Singapore.

Oceaneering is the market leading manufacturer of an extensive fleet of ROV equipment comprising of over 5,000 items, including torque tools and test jigs, flying lead orientation tools, hot stabbing equipment, cleaning tools and cutters.

Allan Pirie, Ashtead Technology CEO, commented: “This global master lease agreement compliments Ashtead’s range of subsea tooling and now provides our customers access to a comprehensive line of market leading ROV products and enables us to deliver integrated ROV equipment packages.

“As we strive to offer the most reliable, innovative and cost-effective solutions to the industry, this agreement, combined with our own comprehensive range of subsea tooling, allows us to better meet the needs and demands of our customers.

“By collaborating with Oceaneering we provide additional access to their market leading ROV tooling product offering, backed by our regional sales and technical support teams, we are demonstrating the type of supply chain collaboration necessary for our industry to sustain a low cost environment.”

Oceaneering is a global provider of engineered services and products, primarily to the offshore energy industry. Through the use of its applied technology expertise, Oceaneering also serves the defense, entertainment, and aerospace industries.

Benjamin Laura, Vice President – Service, Technology, and Rentals of Oceaneering, said, “We are pleased to be working with Ashtead Technology, and leveraging our existing relationship, to offer the offshore industry greater supply chain collaboration to sustain a low cost environment. By collaborating with Ashtead Technology’s comprehensive subsea tooling offerings, sales and support teams, this Agreement offers Oceaneering the opportunity to strengthen our global market positions and ensure our customers have access to an expanded selection of services, products, and advanced industry technology.”

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