Page 53: of Marine Technology Magazine (April 2011)

www.seadiscovery.com Marine Technology Reporter 53

Perry branded ROVs from Subsea Vehicles, FET bathymetric information gathering and supplying off- shore personnel.”

What is on the horizon – in terms of competition, legis- lation or technology – that you believe will change the way you do your business most in the coming five years?

Jones Recent events have affected offshore operations in certain markets in a way that will result in more reliance on subsea capabilities. The necessity of performing more complex remote operations combined with longer dives and reduced downtime are now a requirement, not an objective. We expect more imbedded technologies within the subsea hardware itself, some involving remote func- tionality that will drive our subsea business into new areas.

Our business will be changed in the next five years by less reliance on expensive surface support and more reliance on dedicated subsea assets, with some of the changes driv- en by legislation and some by new technologies, especial- ly those related to power delivery.”

How is FET investing today?

Jones We are currently investing most heavily in our subsea business. Our 2011 capital expenditure plan is sig- nificantly above prior levels and the majority of that spending is in our subsea business. While the exact details are proprietary, I can say we are investing in new products and new markets both in terms of spending identified for growth and for maintenance objectives.”