Underwater vehicle firm M2 Subsea wins £10m worth of contracts

M2 Subsea, a company providing remotely operated vehicle (ROV) services, has secured contracts worth more than £10 million over the past six months.

M2 Subsea CEO Mike Arnold. Picture: contributed.

Based in Aberdeen and Houston, Texas, the business has a fleet of ROVs which have been mobilised in aquatic locations across the globe to carry out tasks ranging from inspection surveys to leak detection.

The firm also secured a contract to identify unexploded ordnance for a UK offshore wind farm earlier this year, building on its work as part of several renewable projects in 2017.

CEO Mike Arnold said: “Collectively, these contracts represent a huge step forward in what has been a challenging period for many companies.

“The oil price is slowly creeping up, which has resulted in renewed optimism across the market and new opportunities opening up.

“It has been extremely encouraging to see an increase in activity over the past 12 months.”