An Aberdeen company specialising in subsea surveys has become the latest victim of turmoil caused by the slump in oil price.
Specialist Subsea Services (S3) called in administrators yesterday, putting the jobs of an estimated 70 employees at risk.
The company, which specialised in chartering remote operated vehicles (ROVs), is owned by Reef Subsea AS, which was which was put into liquidation by its Norwegian owners along with its subsidiary, Technocean Subsea, earlier this month.
According to its most recent set of accounts filed at Companies House, the company had leased three ROVs to Reef. At the time it was confirmed that Reef’s sister company, Reef Subsea UK, was not affected by its parent company’s collapse.
Other shareholders in S3 included management Graeme Kidd, Peter Mackintosh, David MacKay and William Primavesi.
At the time, Neil Gordon, chief executive of trade body Subsea UK, had warned that the collapse of Norway-based Reef would “not be the only casualty in the oil and gas industry in the coming months”.