An oilfield service firm is gearing up for a major recruitment drive in Aberdeen after sealing investment from a Chinese business.
Triton Marine and Engineering Consultants will receive funding from a subsidiary of China National Offshore Oil Corporation (Cnooc) over the next two years.
First Minister Nicola Sturgeon witnessed the signing of the pact in Beijing today.
Triton director Sean Holland declined to say how much investment had been secured from China Offshore Oil Engineering Corporation (Cooec).
But Mr Holland did say the cash injection would help Triton grow its six-strong team in the Granite City.
Mr Holland said the headcount could increase to between 30 and 40, depending on contract awards.
Triton is targeting contracts for large decommissioning, engineering and wind projects in the UK and Africa.
The firm is currently based on Queen’s Gardens, but is looking at alternative properties with more office space.
Ms Sturgeon said: “This agreement is great news for the oil and gas industry in Scotland and for Aberdeen in particular.
“Cnooc’s investment is further evidence that Scotland is increasingly seen by international markets as a fantastic place to do business and invest.”
Mr Holland said he was delighted with the agreement and that he was looking forward to offering a “fresh approach in the North Sea”.
He said: “Cooec have substantial decommissioning experience and have recently completed a significant decommissioning project for Chevron Thailand, receiving their highest safety award.
“Although Triton and Cooec come from different economic and cultural regions we have the same goal – to supply innovative integrated solutions to the oil and gas and wind industries.”