M2 Subsea, the global independent provider of remotely operated vehicle (ROV) services, said yesterday it had won contracts worth more than £10 million in the last six months.
The company, which has bases in Westhill and Houston in the US, added it had completed 10 projects across oil and gas and renewable markets.
M2 Subsea’s ROVs have been used for contracts in the North Sea, the Gulf of Mexico, India and Middle East on projects ranging from inspection surveys to leak detection studies.
The firm also secured a contract for unexploded ordnance identification for a UK offshore wind farm earlier this year.
Chief executive Mike Arnold said: “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 firm has also secured placement of its Triton XLS and Triton XLX ROVs on board two UK-based vessels. These ROVs are equipped with survey pods and auxiliary hydraulics.
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