Ashtead Technology has acquired Louisiana-based subsea equipment rental and cutting services specialist, Aqua-Tech Solutions, as part of the company’s international growth plans in the US. Aker Solutions and FSubsea have agreed to a joint venture, named FASTSubsea, to help operators increase oil recovery. Called Eelume, the underwater drone will perform subsea inspection, maintenance, and repair work. From its record high in 2014, purchases of subsea equipment and SURF fell around 50% until reaching a low in 2018. New data suggest that the subsea market will be a top-performing oilfield service segment.

  Industry: Energy > Oil & Gas > Upstream (1.00)
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