RED Spider Technology, the remote-technology specialist serving the international oil and gas industry, has appointed Gary Connel to the new post of chief financial officer and as a director as part of its growth strategy.
Mr Connel joins the company with 17 years experience in the global oil and gas industry, including senior roles at Technip and iicorr.
The Aberdeen University graduate, a chartered accountant, comes from Edinburgh originally.
He will be based at Red Spider’s headquarters at Westhill, near Aberdeen.
Mr Connel said: “Red Spider has an excellent reputation in the industry for clever technology and I am joining at an exciting time for the company, with a strong focus on international growth.”
Steve Nicol, chief executive, said: “We recently received venture capital funding to enable us to realise the potential of our existing technologies and bring new products to market.
“Gary’s experience and enthusiasm will make a significant impact on delivering profitable growth through internationalisation and the commercialisation of our remote products.”
Red Spider employs 50 people across its operations worldwide.
The company received £7.5million growth equity in a funding round led by Energy Ventures to accelerate internationalisation of the business and complete the commercialisation and rollout of remote well-intervention and completion technologies.
Red Spider says its remote technology helps to reduce risk and cost offshore by eliminating the need for well intervention or control lines, thereby saving rig time.