Ashtead Technology: Subsea Equipment Rental

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How many suppliers did you finally shortlist to say, these are the few that we'll work with? And what was the decision-making process to choose ABC versus the whole subset?

We wanted a pioneer in technology as well. However, the most important factor for us was not cost but the reliability of delivery. I can explain why. These types of services, if the EPC is short-sighted and the procurement team doesn't understand the bigger picture, they will focus on the RFQ process, put out the three bids, and go for the cheapest option.

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How many suppliers did you finally shortlist to say, these are the few that we'll work with? And what was the decision-making process to choose ABC versus the whole subset?

The reality is that this supplier will be on board your vessel. Their productivity, problem-solving and troubleshooting capabilities, reliability of equipment, and flexibility in changing the scope are crucial. These factors are directly linked to your vessel time.

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But wouldn't you have a sense of how much Ashtead, if they are one of your preferred suppliers, how much you are roughly spending? I don't need an exact number. Is it $1 million or $5 million?

I think our direct work with Ashtead is not huge. As I told you, we use them as a tier two supplier. Maybe 60% to 70% of our suppliers' equipment comes from Ashtead rental. You can do the math.

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