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

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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”.

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