9.7 C
Alba Iulia
Friday, April 3, 2020

Aberdeen firm secures £1.8 million of funding for cloud-based management system

Subscribe to our newsletter

We will never spam , sell or share your details

AN Aberdeen-based company has secured a further £1.8 million of private investment for its technology which is expected to revolutionise how offshore oil and gas projects are resourced.

Proteus, developed by Xergy, is a cloud-based work management system that allows companies to find the right people for projects as and when they are needed.

Xergy, which is led by Colin Manson and James McCallum, has previously benefited from £1m of private investment.

Mr Manson, chief executive, said: “We have now secured almost £3m from private investors which has allowed us to develop and beta test Proteus, with amazing feedback from users.

“This investment underlines our confidence in the product, and the value and efficiencies it can bring, but it also demonstrates that there is appetite for disruption within the sector.”

Xergy, which has offices in the city’s Rubislaw Terrace and Dubai, hopes Proteus can capture a large share of the oil and gas gig economy, estimated to be worth £9.6 billion, as well as a slice of a £3.9bn oil and gas enterprise and resource planning market.

Mr Manson said the technology, which facilitates working remotely, “can help the upstream oil and gas industry transform itself to suit the needs of today’s and tomorrow’s workforce”.

scattered clouds
-0.5 ° C
2.8 °
-2.2 °
80 %
27 %
7 °
8 °
11 °
11 °
8 °

Follow Us

Our Other Titles

The Oil & Gas Technology Centre brings...

THE Oil & Gas Technology Centre (OGTC) will launch the first of its Tech20 Virtual series tomorrow. The webinar launch marks a move by the...

Celebrate Aberdeen awards open for nominations

CELEBRATE Aberdeen organisers are to move ahead with the planning of this year’s events in the hope they will go ahead as scheduled. As a...

Wood sets out actions taken in response...

ABERDEEN-headquartered energy services firm Wood has said “employee reductions are being made” in order to tackle the effect of COVID-19 pandemic. The company has set...

Repsol Sinopec new chief executive takes up...

A NEW chief executive has today started at North Sea operator Repsol Sinopec Resources UK. Jose Luis Munoz, a long-time employee of Spain’s Repsol, replaces...

More Articles Like This