Subsea Technology and Rentals (STR) is expanding its operations in Asia-Pacific with a new six-figure investment to triple the size of its Singapore base.
The specialist survey and inspection rental equipment provider, which also has bases in Aberdeen, Perth and Houston, said the move to new custom-designed premises in Singapore form a key part of its ongoing international growth plans.
The 10,000 sq. ft. site is three times that of its previous premises, and will enable the firm to increase service lines and capabilities, it said.
The new blueprints include a large open-plan electronics workshop with space to set up and test multiple complete offshore electronic spreads, cable spooling, testing facilities, and new access features to satisfy requirements for Singaporean customs controls.
The significant investment in the region mean STR is better able to support growing demand from APAC clients, the company said.
STR regional director for Asia Pacific, Jason French, said: “Our new Singapore facilities are further testament to the ambitious growth plans we have at STR and the trust we have built with our clients. It’s an opportunity to further build on STR’s significant presence and reputation in the region.
“STR has the youngest and most advanced survey equipment fleet in the world. Offering an industry-leading working environment will provide a platform to attract more talent to our team enabling STR to provide a more extensive and best-in-class response service to our clients across the growing offshore energy market.
The Singapore expansion follows a £1m investment last year in a 30,000 square foot facility in Great Yarmouth dedicated to research and development.
Private equity firm Baird Capital last year announced an investment into STR for an undisclosed amount, which the subsea firm said bolstered its growth plans.