Press

M2 Subsea Secures Projects Worth More Than £10 Million in Six Months


M2 Subsea, the global independent provider of ROV services, has secured contracts worth more than £10 million over the past six months.

The company, which has bases in Aberdeen, UK and Houston, Texas, has successfully conducted more than ten projects across the oil and gas and renewable markets.

M2 Subsea's extensive fleet of ROVs have been mobilised across the globe for contracts in the North Sea, Southern North Sea, Gulf of Mexico, India and the Middle East with workscopes ranging from inspection surveys to leak detection studies.

Building on the success of several renewable projects in 2017, the firm also secured a contract for unexploded ordinance (UXO) identification for a UK offshore wind farm earlier this year.

Mike Arnold, chief executive officer of M2 Subsea, commented: “Collectively, these contracts represent a huge step forward in what has been a challenging period for many companies. The oil price is slowly creeping up, which has resulted in renewed optimism across the market and new opportunities opening up.

“As we look to cement our position as one of the leading inspection specialists, both in the UK and overseas, it has been extremely encouraging to see an increase in activity over the past 12 months, with a surge of projects being awarded in both Houston and Aberdeen.”

The company has also secured placement of its Triton XLS and Triton XLX ROVs on board two UK-based vessels. The work-class ROVs, which are both rated to 3,000m, feature top-hat tether management systems and are equipped with survey pods and auxiliary hydraulics.

Mr Arnold, continued: “M2 Subsea was formed to fill a gap for cost efficient and high quality ROV services in the low oil price environment and it is rewarding that the market sees the value in our service offering.”

“We have successfully built a strong reputation for our expertise and high quality service over the past two years. It's important for us to continue building on this success in order to grow our market share in the oil and gas, decommissioning and renewable sectors in 2018 and beyond.”


Visit source site

m2subsea.com/media/

SubseaM2 SubseaROVUnited KingdomUK

More items from oilvoice


Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice


Posted 2 months agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice


Posted 2 months agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice


Posted 3 months agoPress > CNOOCChina National Offshore Oil CorporationChevron +11

Total Announces the Distribution of its Second 2018 Interim Dividend

The Board of Directors met on December 12, 2018 and declared  the distribution of a second interim dividend for the 2018 fiscal year of €0.64 per share, in accordance with the Board's decision of July 25, 2018, an amount equal to the first 2018 interim dividend and an increase of 3.2% compared to t ...

OilVoice Press - OilVoice


Posted 3 months agoPress > TotalDividend

Methyl Tertiary Butyl Ether Capacity Will Grow at a CAGR of 16.8% in India Over Next Four Years, says GlobalData

India's Methyl Tertiary Butyl Ether (MTBE) plant capacity is forecasted to grow at a compound annual growth rate (CAGR) of 16.8% from 0.211 million tons per annum (mtpa) in 2017 to 0.460 mtpa in 2022, according to GlobalData , a leading data and analytics company. The company's report: ‘ Met ...

OilVoice Press - OilVoice


Posted 3 months agoOpinion > GlobalDataIndiaMTBE
All posts from oilvoice