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FM witnesses agreement

Chinese state to invest in Aberdeen oil firm Triton


Nicola Sturgeon: ‘great news for the oil and gas industry’ (photo by Terry Murden)

An Aberdeen engineering company will receive investment from a subsidiary of China’s third largest national oil company.

The agreement between Triton Marine & Engineering Consultants and China Offshore Oil Engineering Corporation (COOEC), a division of the China National Offshore Oil Corporation (CNOOC), came during First Minister Nicola Sturgeon’s visit to Beijing.

Triton Director Sean Holland was in the city to sign the deal alongside, Mr. Jin Xiaojian, President of COOEC.

The deal will see COOEC invest in Triton over the next two years, giving the firm the capacity to bid for large decommissioning, EPCi (engineering, procurement, construction and installation), and wind projects.

The partnership comes after months of negotiations which have seen COOEC’s senior management visit Scotland.

Speaking after the signing, Ms Sturgeon, said: “This agreement is great news for the oil and gas industry in Scotland and for Aberdeen in particular.

“CNOOC’s 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.”

Abertay University has signed a 10-year strategic partnership with a China-based entertainment and education company to share international expertise in the video games sector.

The signing of the deal with Perfect World will see the Dundee-based university deliver a new e-MProf (Executive Professional Masters in Games Development) in Beijing, while also exploring a range of future academic, research and business collaborations.

It was also announced that total spend by Chinese visitors to Scotland has increased by 414% – from £7 million to £36m since 2007.

Over the same period, the number of visitors from China has increased by 192%, with 41,000 visits in 2016.

Ms Sturgeon attended an evening reception to preview a new global marketing campaign, launching later this week to invite people from around the world to live, work, visit and invest in Scotland.

The First Minister said: “Tourism is a vital part of Scotland’s economy, and these figures demonstrate the growing significance of Chinese visitors to our country.”


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