ABERDEEN, UK – Ashtead Technology and Forum Energy Technologies have decided to form a joint venture, which they claim will create the industry’s leading provider of subsea survey and ROV equipment rental and associated services.
Forum will contribute its subsea rentals business, currently trading asForum Subsea Rentals.
The combined group will have a rental fleet of 19,000 assets valued at more than $139 million and serving all major subsea hubs from bases in Aberdeen, Singapore, Abu Dhabi, London, and Houston.
The new venture will trade as Ashtead Technology, providing a one-stop shop for customers’ equipment needs, supported by 120 skilled personnel. It will offer advanced engineered measurement solutions and a full set of asset management services.
Allan Pirie, CEO ofAshtead Technology, said that in today’s energy sector, “greater capital efficiency, depth of capability and domain expertise is essential to the delivery of successful projects.
“We will help our customers address their challenges head on, taking complex problems and matching them with equipment, technology solutions and industry expertise. This is not just about more of the same; it is about doing things differently in response to customer needs.”
Houston-based Forum Energy Technologies, owner of Forum Subsea Rentals, will retain a stake in the combined business.