An American software and energy company has opened a new base in Aberdeen – adding to a satellite office opened in Inverness earlier this year – as part of its plans for international growth in the oil and gas industry.
Founded in 2016 in San Diego, California by Inverness-born Alastair Caithness, Ziyen Inc. is on track to be listed on the NASDAQ Stock Market following its flotation in early 2018.
The firm, which also has a satellite office in Inverness, will support the Granite City operation with the appointment of experienced industry figures who are expected to be appointed in the coming weeks
The move to the new facility in Aberdeen follows the recent $36 million acquisition of an oil well in the USA and the creation of a new division – Ziyen Energy.
Located in Evansville, Indiana, the asset consists of six separate wells – each producing oil -which will be extracted by using the latest in sustainable technology
The planned flotation allows Ziyen to trade as a petroleum company, rather than as a software firm, making it more attractive to potential investors and shareholders – whilst simultaneously aiding expansion within the US energy market.
Ziyen was set up two years ago to develop cutting-edge procurement software that would provide clients with both government and private contracts from a specific industry via procurement portals.
In 2017 it created a specialist energy division, Ziyen Energy, which aims to produce oil in the United States with advanced extraction methods and technology implemented and guided by career experts in the oil and gas industry.
Alastair Caithness, the company’s chief executive, worked in Aberdeen for several years prior to relocating to California. He commented:
“Ziyen is a Scottish-American energy company focused on pushing energy prices down.
“Aberdeen gives us a fantastic platform for growth, both in Scotland and internationally.
“Of course, the oil and gas industry is much-changed in recent years but we are confident that there are still opportunities out there for companies with the right skill-set and solutions.
“With a record number of Scottish companies actively looking to enter the global market, both in the United States and other oil-producing regions, it is perhaps surprising to see a company like Ziyen moving in the opposite direction. However, we see enormous potential for our service offering in the UK, particularly around new technology.”
14 Nov 2017
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