Aberdeen-based ROVOP has secured new multi-million-pound investment from its shareholders Blue Water Energy and BGF.
The investment secures ROVOP’s long-term future and ensures the company can continue to provide its services.
In addition to the investment, ROVOP has appointed a new senior management team.
David Lamont is stepping down as CEO, with Neil Potter stepping in as new CEO.
Potter has spent 18 years of his career at board level, including senior roles at Dominion Gas and TWMA.
Maurice McBride will also join ROVOP as non-executive chairman.
“The investment from Blue Water Energy and BGF will allow us to focus on providing specialist services to our clients.
“I have worked with Neil extensively in the past and I can safely say we are in excellent hands. I am looking forward to working with the new management to deliver for all our stakeholders.”
Neil Potter also added: “I would like to thank David Lamont for all his hard work and everyone at ROVOP wishes him well for the future.
“We now have a restructured balance sheet that has the backing of our investors, banks and financial partners.
“ The wide-reaching changes that we have announced today will allow us to build on everything that has been achieved.”
Mike Sibson of BGF said: “Having been an investor in ROVOP since 2015, we’re pleased to support them through the current, combined challenge of the global pandemic and the oil price volatility and ensure they are well-positioned to recover and grow.”