Dana Petroleum has laid the keel for a $400 million (£265m) oil production vessel which will produce and store up to 40,000 barrels a day from the North Sea by 2015.
The Aberdeen-based company, a wholly owned subsidiary of the Korea National Oil Corporation (KNOC), said the stage marked a major milestone for Dana’s Western Isles project.
Dana and its partner Cieco are investing $1.6bn in a nine-well development of two oil fields called Harris and Barra in the Northern North Sea, 160km east of the Shetlands and 12km west of the Tern field.
Alliance signs up 100 more funds
Alliance Trust Savings, part of the Dundee-based Alliance Trust group, has announced the addition of 100 funds to its investment platform.
The funds, from providers Axa, Miton, Old Mutual and 7IM, takes the total number offered through the savings business to more than 1,700 from over 45 fund managers. Sara Wilson, head of platform proposition at Alliance Trust Savings, said the company was in talks with a number of other providers to further expand its offering.
Alliance Trust Savings administers more than
£4.5 billion of assets.
UBS raids Lloyds staff for UK push
UBS Wealth Management has hired three Lloyds’ client advisers for Edinburgh, Manchester and the south-west of England as part of its push into the UK market.
Matt Hoyne joins UBS’s Edinburgh office to focus on servicing Scottish wealth management clients, bringing the team, led by Colin Aitken, to nine. He joins after a spell at Lloyds’ elite Mayfair Private Banking in Scotland.
Meanwhile, Simon Pearson join UBS’s Manchester office while Carl Tremlin completes the hires, joining the firm’s south-west team.
Office supplies firm signs five year deal
Office equipment specialist Capital Document Solutions has agreed a five-year contract with Fettes College in Edinburgh.
Under the deal the firm will provide copiers, printers, scanners and print management software.
Capital, which is headquartered in Edinburgh, increased turnover last year to £16.5 million from £14.5m.
The recent acquisition of Inverness-based Highland Office Equipment has increased total staff numbers to 200 and put the company on track to achieve a £30m turnover target by the end of 2015.