MacKay Hannah

Scottish Engineering Conference 2019: Supporting Scotland's engineering and manufacturing industry

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Aberdeen firm strikes oil and gas deal during Nicola Sturgeon China visit

An Aberdeen based engineering firm has struck a deal with a Chinese oil and gas counterpart, at the same time that Nicola Sturgeon is on a visit to China as part of a trade-boosting move.

The deal sees China Offshore Oil Engineering Corporation (COOEC) provide inward investment to Triton Marine & Engineering Consultants for the next two years.

The investment will allow Triton to grow its team in Aberdeen and bid for large decommissioning, EPCi and wind projects. The partnership, which comes after months of negotiations, was settled as the First Minister began her official visit to China.

Speaking on the deal, Nicola Sturgeon said: “This agreement is great news for the oil and gas industry in Scotland and for Aberdeen in particular. This investment is further evidence that Scotland is increasingly seen by international markets as a fantastic place to do business and invest.”

Mr Holland said: “We are delighted to have secured this significant partnership with COOEC, one of the largest EPCi companies in the Asia Pacific Region. 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. We believe with COOEC’s vast capabilities, expertise and experience we can offer a fresh approach in the North Sea.

“COOEC’s inward investment into Scotland is the first key step to ensuring the long term success of this venture, and will provide a foundation upon which we will build together.

“I want to extend a special thanks to Scottish Development International, who have provided both Triton and COOEC with excellent support, as well as the Team at Triton, who have worked diligently to ensure the future success of this partnership.”

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I was keen to get a better understanding/background to the budget and this was met. Well structured event with good and knowledgeable speakers.

Ewan Wylie, Malcolm Hollis LLP,
Fraser of Allander Scotland's Budget Briefing, 26 September 2017

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