North sub-sea operator Rovop is to increase its fleet of remote-controlled underwater vehicles (ROVs) by 50% thanks for a £56 million new funding boost.
Blue Water Energy and BGF have jointly committed to the funding which underpins ROVOP’s ambitious future growth plans – including the creation of potentially up to 80 new jobs in Scotland.
ROVOP, which has bases in Aberdeen and Houston, employs more than 180 people in onshore and offshore roles, and operates 16 of the world’s most advanced ROVs.
The funding has enabled the company to increase its fleet immediately to 24 ROVs with the new assets being acquired from Tidewater in Houston. Tidewater owns and operates one of the largest fleets of offshore support vessels globally.
Founded in 2011 by Steven Gray (chief executive) and Mark Vorenkamp (chairman) ROVOP provides ROV services to the oil and gas, offshore wind, telecoms and power transmission industries.
BGF first invested £10.6m in ROVOP in April, 2015, and has since supported the company twice more with additional funding to grow the fleet.
Gray said: “The combination of the latest ROVs with our current assets mean that we will have the highest quality ROV fleet globally.
“With BGF’s support, we have already established ourselves as a leading specialist in our field.
“The new partnership with Blue Water Energy will cement this further and accelerate our ambitious growth plans to become the leading independent ROV company. We look forward to working with Graeme Sword and the team from Blue Water Energy.”
Graeme Sword, partner at BWE, said: “Over the past six years, ROVOP has established itself as a high-quality provider of ROV services to many of the leading oil and gas companies globally.
“As the energy market continues to grow for this specialist service, we see Steven and his team as the best placed to capitalise on this.”
21 Dec 2017