Subsea services company M² Subsea has opened its new office in Aberdeen and created 30 jobs with plans to create up to 150 more by the end of the year.
The recently formed subsea business has moved its people and equipment into new headquarter premises in Arnhall Business Park at Westhill in Aberdeenshire.
M² Subsea said on Wednesday that it has taken possession of 27 remotely operated vehicles (ROVs) of the 32 it invested in near the end of 2016 and that it mobilized 10 of them onto a diverse fleet of subsea vessels.
M², also based in Houston, expects to create 50 onshore and 100 offshore jobs by the end of the year. Around 30 people have joined the management team in the UK and the US with more expected to be recruited as imminent contracts are signed.
Mike Arnold, CEO of M² Subsea, said: “The time is right for a new ROV services provider with a fresh approach that can, through experience, expertise, the correct asset base and lean management, dramatically reduce both cost and risk while continuing to provide a professional and quality service.
“Key to this will be our collaboration with vessel owners and operators, helping them to maximize utilization of vessels and offering competitive solutions to meet our clients’ demands.”
M² Subsea was set up in early 2016, and the investment which allowed the business to acquire a fleet of assets provided the foundation on which to build a business.
“The current oil price is here to stay for a considerable period, so the focus is on getting costs down. We’ve been able to get best-in-class assets at the right price and an overhead appropriate for the current market,” added Arnold.
M² Subsea’s fleet of ROVs include the following models: Tiger, Mohican, Super Mohawk, Comanche, XLS, XLX and have been mobilized on the Nor Da Vinci, Nor Atlantis, Siem Swordfish, and Viking Poseidon vessels.