The UK’s Swire Oilfield Services will invest £50m this year in rental fleet units and support infrastructure.

About £20m will be spent on the company’s North Sea operations and the remaining fund will support the rising demand for North Sea industry standards in various offshore projects around the world, reports upstreamonline.com.

Swire CEO Rupert Bray said that there is a lot of demand for safe, reliable, high quality, and internationally approved offshore cargo, carrying units around the world.