M2 Subsea Brings 150 Oil, Gas Jobs
Houston-based M2 Subsea will create 150 jobs in both Houston and Aberdeen in 2017. The company, which provides Remotely Operated Vehicle (ROV) services globally, opened a new office in Aberdeen, creating 30 jobs and expects to bring 50 onshore and 100 offshore jobs by the end of the year.
M2 Subsea started 2017 on a strong note, taking possession of 27 ROVs. The company secured private equity investment in late 2016, which allowed them to acquire the fleet of assets. M2 Subsea’s management team is confident the company will become a remote intervention services leader in the next year-and-a-half.
“The time is absolutely right for a new ROV services provider with a fresh approach…” Mike Arnold, CEO, M2 Subsea, said a release. “It’s all about recalibration. The current oil price is here to stay for a considerable period, so the focus is on getting costs down.”
Arnold also noted that any prediction on the price of oil has to be taken with a degree of caution.
“The trend just now shows a period of general stability and I'd be surprised if we saw $60 oil this year,” Arnold told Rigzone. “That said, there are a number of macroeconomic factors that could alter the demand curve, so it's always a watching brief.”
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