Fledgling subsea business – M² Subsea – which secured private equity investment last year – has moved people and equipment into its new headquarter premises in Grampian.
The company, which is also based in Houston, expects to create 50 onshore and 100 offshore jobs by the end of the year. Around 30 people have joined the management team at Arnhall Business Park in Westhill with more expected to be recruited as imminent contracts are signed.
In addition to recruiting onshore commercial and operational personnel, M² Subsea has also taken possession of 27 remotely operated vehicles (ROVs) and mobilised them onto a diverse fleet of subsea vessels.
With over 100 years’ global subsea experience and strong financial backing, M² Subsea management aim to become a leader in remote intervention services in 18 months.
Mike Arnold, Chief Executive, said: “The time is absolutely right for a new ROV services provider with a fresh approach that can, through experience, expertise, the correct asset base and lean management, dramatically reduce both cost and risk whilst continuing to provide a professional and quality service.
“It’s all about recalibration. The current oil price is here to stay for a considerable period -mso the focus is on getting costs down.
“We’ve been able to get best-in-class assets at the right price and an overhead appropriate for the current market. Our people have the knowledge, experience and commitment required to shape a fresh approach to the market and I firmly believe that this will set us apart from other companies.”
Meanwhile, Ashtead Technology subsea group has created a new Engineered Solutions Group based at its head office in Aberdeen.
Ross Macleod, technical director of Ashtead Technology, who is heading up the new division, commented: “Our aim is to provide integrated solutions that reduce vessel-time and allow subsea infrastructure to be more efficiently managed through its lifecycle.
“We see real-time, remote information connectivity from subsea to desktop as an essential part of this transformation. Capturing high quality, accurate information in real-time from underwater equipment and infrastructure allows operators to make quicker, better informed decisions which can dramatically reduce costs and risk.”