Oil field engineering group Aker Solutions said yesterday it would invest £4million in its UK offshore maintenance, modifications and operations (MMO) division.
Aker said the cash injection would take place over the next 18 months. Mike Forbes, managing director of Aker’s MMO business in the UK, said the investment would also cover IT upgrades and the forming of two groups within the firm focused on the asset integrity and front-end engineering markets.
Mr Forbes said: “Industry analysts are forecasting investment growth rates between 15-23% in the next few years across new build, brownfield modifications, operations and maintenance and engineering and construction activities.
“We want to capitalise on this, and the best way to do so is through ramping up the support we offer our customers here.”
Aker has increased its north-east workforce by around 350 people in the past nine months, taking the total number to more than 2,700. The company still intends to recruit more, and expects to add 500 people over the next two years.
Aker employs 23,500 people worldwide and has annual turnover of £3.9billion.