The two companies on Jan. 23 sealed a partnership for global distribution of sensor technology to the oil and gas industry. By combining sensor engineering competence, domain expertise and technologies for effectively ensuring the lifespan of subsea assets, the partnership will support operators and vessel owners in reducing risk and operational cost.
Under the deal, 4Subsea’s autonomous, retrofittable sensors will be available to the global oil and gas industry via Ashtead Technology. Additionally, 4Subsea will explore utilizing Ashtead’s acoustic sensors for further developing their services offering to the market
Ashtead will further enhance its inspection, maintenance and repair services by adding 4Subsea’s sensors to its portfolio and gaining access to 4Subsea’s domain experts within subsea production, well intervention and drilling. 4Subsea will strengthen its position in the global sensor market with hardware and digital services delivery through Ashtead’s extensive sales and distribution network including facilities in Aberdeen, Abu Dhabi, Halifax, Houston and Singapore.
“Ultimately we believe this partnership will support operators in reducing both risk and costs associated with operating subsea fields,” Peter Jenkins, CEO of 4Subsea, said.
Recommended Reading
Kimmeridge Activates on SilverBow: A Battle for South Texas Gas
2024-03-01 - Investment firm Kimmeridge is looking for more natural gas production for its own E&P to participate in the Gulf Coast LNG market. SilverBow Resources has gas.
EIA: Oil, Gas Output to Fall Across Lower 48 in February
2024-01-18 - Daily oil and gas output is forecasted to decline from shale basins across the Lower 48 in February—except from the mighty Permian Basin, according to new Energy Information Administration figures.
McKinsey: US Output Hinges on E&P Capital Discipline, Permian Well Trends
2024-02-07 - U.S. oil production reached record levels to close out 2023. But the future of U.S. output hinges on E&P capital discipline and well-productivity trends in the Permian Basin, according to McKinsey & Co.
4Q Deal-Making Was $144B; What’s Next?
2024-01-23 - U.S. takeout targets are few now. Operators may go abroad to add reserves, according to Enverus. Private E&Ps may pick up offshoots from portfolio pruning.
Exclusive: Andrew Dittmar Expects Increased Public M&A in 2024
2024-02-15 - In this Hart Energy LIVE Exclusive, Andrew Dittmar, Enverus Intelligence's senior vice president, compares 2023 consolidation to what he expects in 2024, including more public to public deals.