Tattva Group has announced a £2million investment in Project Development International (PDi), signaling a strategic push to expand its footprint in the North Sea, with a particular focus on engineering and procurement services to support operations and decommissioning.
The Tattva Group has also committed access to additional capital to PDi, subject to the business achieving its growth targets.
The investment aims to strengthen PDi’s core capabilities in subsea engineering and decommissioning, while enhancing its wider engineering services offering in topsides. This comes at a critical time, as the UK’s energy sector grapples with policy uncertainty and increasing volatility across the supply chain.
Girish Kabra, recently appointed CEO of PDi, welcomed the move, calling it a ‘vote of confidence’ in PDi, and the North Sea market more broadly.
“Tattva Group’s commitment to PDi - especially amid current policy uncertainty from the UK Government and pressures facing the supply chain - is welcomed, to boost workforce confidence and support the collective regional effort to retain skills in the North Sea,” Mr Kabra said.
“This growth capital will enable us to further develop our world-class engineering business and enhance how we support North Sea operators with their late-life asset management and decommissioning activities.”
T R Narayanaswamy, Group Chairman of Tattva highlighted the strategic rationale behind the investment.
“We see a gap in the market where operators are seeking more flexibility and value-added service offerings,” Mr. Narayanaswamys said.
“With its refreshed management team and focus, PDi is uniquely positioned to meet that need and deliver long term value to clients.”
The investment sets the stage for PDi to become a key player in the next phase of North Sea activity, aligning its services with the evolving needs of late-life asset operators and the broader energy transition.