Oceaneering Secures Global Master Lease Agreement with Ashtead Technology

November 7, 2018


November 6, 2018 — Houston, Texas — Oceaneering International, Inc. (“Oceaneering”) announced that one of its wholly-owned subsidiaries has secured a global Master Lease Agreement (“Agreement”) with Ashtead Technology Limited (“Ashtead”), an independent provider of subsea equipment rental, sales and services to the offshore industry.

Under the terms of the Agreement, Oceaneering will provide Ashtead access to its inventory of over 5,000 tools and work packages to service the work-class remotely operated vehicle market. This Agreement will cover equipment packages as well as associated tooling and services that provide life of field support to the drilling and completions sectors. The Agreement will leverage Ashtead’s facilities and support teams globally based in Aberdeen, Singapore, Abu Dhabi and Houston.

Benjamin Laura, Vice President – Service, Technology, and Rentals of Oceaneering, said, “We are pleased to be working with Ashtead, and leveraging our existing relationship, to offer the offshore industry greater supply chain collaboration to sustain a low cost environment. By collaborating with Ashtead’s comprehensive subsea tooling offerings, sales and support teams, this Agreement offers Oceaneering the opportunity to strengthen our global market positions and ensure our customers have access to an expanded selection of services, products, and advanced industry technology.”