Sigma Offshore, an Aberdeen, UK-based developer of a mooring and fluid transfer system for oil and gas production vessels, has secured £4m (approximately US$6.1m) in equity funding.
The investment was made by global oil and gas services company National Oilwell Varco (NOV), Scottish Enterprise’s Scottish Venture Fund (SVF) and venture capital firm, Energy Ventures.
It follows £2m of funding secured from Scottish Enterprise’s Scottish Venture Fund and Energy Ventures in May last year.
Sigma Offshore, which has already expanded into the United States and Norway, will use the the new capital to continue with the worldwide development of its innovative Smart Mooring System (SMS) and its other mobile production solutions.
The company has targeted SMS for markets in Gulf of Mexico, South America, West and North Africa, the North Sea, South East Asia and Australian waters.
Sigma Offshore also delivers extended well testing systems, floating production export system solutions, subsea solutions and project management.