China's iRes-Geo Technology Ltd created new jobs when it opened its first Scottish base at Edinburgh's Heriot Watt University’s Research Park in 2016.
iRes-Geo Technology created 10 new jobs and the company, which specialises in geosciences and reservoir technology, is capitalising on Scotland's long-established strengths in the subsurface engineering sector.
Its Scottish-based team works to maximise opportunities in exploration, appraisal, development and field maturation projects.
Supporting investment in Scotland
iRes-Geo was able to count on our support when it planned its investment in Scotland.
Our teams in Scotland and China worked intensively with the company, offering advice and guidance as well as financial support to establish its Edinburgh base. The company was also part of an inward mission to Offshore Europe in Aberdeen in 2015.
Yi Huang, chairman of iRes-Geo and a graduate of Edinburgh's Heriot Watt University, said:
"We set up a new office in Edinburgh to support our North Sea and global expansion plans. We actively recruited in Scotland to take our total staffing levels to five in 2016.
"I would like to take this opportunity to thank SDI for its great support, in business development and in setting up this company. I am looking forward to continuing to work with them as we deliver our growth plans."
iRes-Geo Technology Ltd created three of the initial jobs within research and development and marketing fields in 2016.
David Rennie, our international sector head of oil and gas, said:
"This announcement was welcome news for Scotland’s oil and gas sector and reinforced our world-wide reputation as being a global hub for oil and gas activity.
"Our skills, experience and expertise together with our world-class training facilities and strengths in innovation made Scotland the location of choice for iRes-Geo Technology Ltd. Despite the current challenges that we are all aware of, investments such as these demonstrate we are still seen as an attractive long-term location."
Connecting Scotland and China's oil and gas sectors
China is a key market for Scotland’s oil and gas sector both for inward investment opportunities and trade.
In 2015, China was listed as key market for future growth by Scotland's oil and gas supply chain companies. The following year, 15 oil and gas companies joined our trade mission to Beijing and Shenzhen. The aim was to develop new international partnerships in areas where Scotland’s strong heritage can support the Chinese oil and gas industry in its global development.
David Rennie said:
"Supporting iRes-Geo Technology Ltd’s move to Scotland forged even stronger links between Scotland and China and we will continue to work intensively with their management team through our account management portfolio to support its ambitious growth plans in Scotland.
"The Chinese market is extremely important to Scotland.”
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