China Ocean Engineering Shanghai (COES), a state-owned marine and offshore engineering services group, has opened the office of its first UK subsidiary – COES Caledonia (UK) Limited, located in Dundee.
The move aims to broaden the company’s international reach and support the growing offshore decommissioning and renewables sector in the UK and Europe.
The North Sea/UKCS decommissioning sector alone is reportedly estimated to have £17.6 billion expenditure and 100 platforms, and 7,500 kilometers of pipelines for complete or partial removal over the next decade.
The COES international president, Hong Chong officially opened the new premises in conjunction with the Scottish minister for Business, Fair Work & Skills, Jamie Hepburn MSP, and Dundee City Council leader councillor John Alexander.
Ahead of its projected global decommissioning and renewables activity, COES has invested around £400 million to develop new offshore construction engineering assets. One of these is its new flag ship vessel the ‘Chuang Li’. The vessel has DP3 4500MT lifting capacity and self-propelled pipelay capability.
The new company has also invested £0.5 million in a modern office located on Dundee’s waterfront and will initially employ up to 15 members of staff, and, subject to contract success, has ambitions to grow the team in the years ahead creating both local and international job opportunities.
COES Caledonia (UK) Limited’s new director general, Norman McLennan, said: “It’s fantastic to officially open the doors to our first UK office, realising our strategic intent to strengthen the COES presence in Scotland.
“There’s a significant volume of offshore decommissioning and renewables activity projected over the next decade and we’re looking forward to supporting the offshore sector from our new prime location in Dundee.”