OneSubsea is to invest £1.8 million in a new project for the development of its Standardised Modular Injection System (SMIS).
The project, which will create five new jobs and safeguard a further 35, is being supported with a £434,126 R&D grant from Scottish Enterprise.
It will be delivered from the company’s Aberdeen site.
Energy Minister, Fergus Ewing, welcomed the news saying: “While it is clear the oil and gas sector faces ongoing challenges from a low global oil price, this investment continues to underline the many opportunities that remain in Scotland’s world-class supply chain.
“With 22 billion barrels of oil and gas remaining, the sector can still have a strong future, and I am pleased to welcome this investment.”
Chief executive of Scottish Enterprise and chair of the Energy Jobs Taskforce, Lena Wilson, said: “Innovation is fundamentally important to growing Scotland’s competitive advantage and with it, new opportunities at home and overseas can be realised. That’s why we want to support more oil and gas companies to invest in innovation. Companies like OneSubsea, with strong growth ambition and international opportunity.
General Manager of OneSubsea, Daniele Petrone, added: “We are delighted to announce, in conjunction with Scottish Enterprise grant assisted funding, OneSubsea are progressing with the design, development, prototype and testing of a Standardised Modular Injection System (SMIS) using a novel electrically driven topside deployment system and non-collapsible composite tubing for the subsea intervention market.
“It is anticipated that this will open new markets within some of the most challenging Oil & Gas environments, create some five new jobs and secure employment for a further 35. We further hope to release our new offering to the industry during quarter 4, 2017.”