A new Oil and Gas Consultancy in Aberdeen has been set up by finance director Simon Cowie comprising former employees of Genesis Oil and Gas Consultants. Xodus which specialises in software products and engineering services for the upstream oil and gas sector has a 20 strong team who left their former employer to join the venture.
Simon Cowie has since appointed Colin Manson and Stephen Swindell as directors of the business. The Royal Bank of Scotland, together with the company founders and a private investor, are investing around £2 million in Xodus.
Graham Sword, head of oil and gas investments at 3i in Aberdeen said there is a strong appetite for deals in the service sector currently.
Xodus predict that it will treble its staff to 60 within the first year.