Cloud-based management system secures £1.8m injection

Technology which is expected to revolutionise how offshore oil and gas industry projects are resourced has secured a further £1.8 million of private investment.

Proteus is a cloud-based work management system that allows companies to find the right people for projects as and when they are needed. The Aberdeen-based start-up behind it, Xergy, is led by oil and gas veterans Colin Manson and James McCallum. Xergy 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 hopes Proetus 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.

One wind turbine can produce enough electricity to power up to 300 homes.

Mr Mason 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”.