ROVOP buys entire ROV fleet from M² Subsea

UK-based ROVOP, a provider of underwater remotely operated vehicles (ROVs), has decided to purchase the entire fleet of 28 ROV systems from compatriot ROV and vessel services provider, M² Subsea.

The fleet expansion will enable ROVOP to strengthen deployment capabilities across the world, with a particular focus on Latin America, Africa, Middle East and Asia, ROVOP explained on Monday.

ROVOP also said that, following a technical review, 19 of these systems meet the ROVOP standard and will be added to its fleet, with the remaining ROVs either being decommissioned or sold.

This will increase the number of ROVs that ROVOP operates to 51 – 34 hydraulic systems and 17 electric systems.

The fleet is expected to be deployed in the vessel and rig markets.

Steven Gray, CEO said: “This increased capacity allows ROVOP to support customers with a wider geographical reach.”

M² Subsea business was set up in 2016 by securing an injection of private equity investment to acquire a fleet of ROVs. In early 2017 the company took possession of 27 ROVs of the 32 it invested in near the end of 2016. The company has offices in Aberdeen and Houston.