Leading Mooring Systems Provider Names Major Investment Package

Leading Aberdeen-based offshore mooring systems provider, Sigma Offshore, has today (April 29) announced securing investment funding of UK3.55 million from Energy Ventures, which has offices in Houston, Aberdeen and Stavanger. The finance is set to assist Sigma's planned recruitment drive and international expansion this year.

Sigma is a turnkey provider of innovative and cost-effective mooring and fluids transfer technology to the oil and gas industry. Their Smart Mooring System -- SMS, developed and patented by its expert team, incorporates step change technology. This results in cost-effective FPSO and FSO mooring and fluid transfer solutions with high operational capabilities. Not only does the technology allow for permanently moored solutions, it provides the efficient disconnectable FPSO mooring that the industry has been asking for.

John Baross, managing director, Sigma Offshore, said: "This is an extremely positive move for Sigma. It will give us enormous scope to boost our senior team, move into new markets and to build on the work that we have done in-house in developing products to address market needs around the world. We have exciting plans for the company and look forward to continued success with Energy Ventures. We will of course continue to grow our engineering design consultancy."

Greg Herrera, partner, Energy Ventures Aberdeen, added: "Sigma's technology and expertise can significantly reduce industry capex and opex costs while speeding up time to first oil. There is clear potential for major growth and we look forward to working closely with Sigma to allow them to use our expertise, access to networks and knowledge of potential funding sources.''