A new subsea business has opened an office in Aberdeen with the creation of 30 jobs – and another 150 posts in the pipeline by the end of 2017.
Independent ROV and vessel provider M2 Subsea has moved into headquarters in Arnhall Business Park at Westhill in Aberdeenshire.
It comes after the firm secured private equity investment near the end of 2016.
So far this year the company have recruited a number of onshore commercial and operational personnel as well as taking delivery of 27 remotely operated vehicles (ROVs).
The company, which also has a base in Houston, Texas, expects to create 50 onshore and 100 offshore jobs by the end of the year.
Around 30 people have joined the management team in the UK and the US, with more expected to join imminently as contracts are signed.
The firm, which has 100 years global subsea experience, has ambitions to become a market leader in the next 18 months.
Services including survey, engineering, inspection, repair and maintenance work as well as project management and execution and supply of personnel to the oil and gas, renewables and decommissioning markets.
Mike Arnold, chief executive of M2, 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.
“Key to this will be our collaboration with vessel owners and operators, helping them to maximise utilization of vessels and offering competitive solutions to meet our clients’ demands.”
M2 Subsea was set up in 2016 and a subsequent investment allowed the business to acquire a fleet of assets.
Arnold said the key to keeping afloat in current stormy market conditions was keeping costs down while maintaining quality.
He said: “It’s all about recalibration.
“The current oil price is here to stay for a considerable period so 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 it’s this mind-set that will set us apart from other companies.”
M2 Subsea’s fleet of ROVs include the following models: Tiger, Mohican, Super Mohawk, Comanche, XLS, XLX and have been mobilized on the Surf Challenger, Nor Da Vinci, Nor Atlantis, Siem Swordfish, Viking Poseidon and Olympic Delta.
Recommended for you
