One of the world's biggest private companies has pledged £20 million to the North Sea
oil industry.
Swire Oilfield Services, an oil services subsidiary of John Swire & Sons, has unveiled plans to invest £20 million in its operations in Aberdeen as directors predict continued growth in the UK market.
The announcement of multi-million pound funding in the North Sea oil industry is part of a global investment drive by the company totalling over £50 million, likely to be spent largely on its rental fleet and support infrastructure.
It has claimed that the upturn in global oil and gas has seen 20 new jobs created, however, the investment in Aberdeen operations could see staff numbers there rise from 20 to 170.
Rupert Bray, chief operating officer of the firm, said: "Whilst there may be some uncertainty in the North Sea due to recent tax changes, the global offshore energy industry presents a real opportunity to expand the company's global market presence."
He explained that global demand is high for safe, reliable, high quality, and internationally approved offshore cargo carrying units.
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