Global risk management group DNV GL has set up a new subsea team in Aberdeen to grab a slice of a market expected to quadruple in size by 2020.
The Norwegian company, which has Scottish offices in Aberdeen, Edinburgh and Glasgow, wants a share of the £85billion annual revenue the subsea industry is expected to generate around the world by the end of the decade.
An estimated 45% of the UK North Sea production now comes from subsea wells.
An increased focus on maximising oil and gas recovery means more subsea tie-backs to existing installations.
Martin Fowlie, head of section for DNV GL’s new subsea unit, said: “DNV GL is very much looking to the future by bringing together the best of our technical expertise in this area.
“For many years, DNV GL in Aberdeen has been involved in the certification of subsea equipment and components.
“We have, over time, been privileged to call practically the entire procurement chain our customers, for certification or verification services.
“This puts us in a very strong position in understanding the challenges facing the subsea market.”