ABERDEEN offshore rental firm Hiretech has announced a £600,000 investment in new decommissioning equipment.
The spend, on newly built subsea shears and hydraulic grabs, comes following client feedback received by the company.
Duncan Duthie, decommissioning and subsea business development manager, said: “We were keen to pinpoint the correct target for our investment, and collaborated with our clients and the manufacturer to go back to first principles for the subsea shears.
“We now have shears specifically designed for water depths of up to 10,000 feet with performance, ease of operation and maintenance a priority.”
Bosses said Hiretech, which offers equipment rental and personnel supply to the energy and marine industries, has not been immune to the effects of Covid-19 and the recent oil price volatility, but believes the business environment has now stabilised.
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Andy Buchan, Hiretech chief executive, said: “Talking to our peers and clients, it is apparent that activity drops through the worst months of the pandemic of up to 70% from last year were not uncommon, although there are definitely encouraging signs of a bump off the bottom at the moment.
“Like other businesses, we have had to resize, refocus and reinvigorate our team to meet the new challenges we face.
“We see tremendous opportunities for SMEs in the new world.”
