Project Development International (PDI) (www.pdi-ltd.com), an engineering consultancy that employs 90 people in Aberdeen and London and was founded in 2003, has a new owner.

It has been acquired by Singapore-based Tattva International Holdings, which is part of the India-based Tattva Group (tattvagroup.com).

The acquisition sees Tattva International take full ownership of all PDI assets from its parent company the Ceona Group — a sub-sea engineering contractor that went into administration last September as demand fell due to depressed market conditions in the oil and gas sector.

PDI managing director Mark Gillespie: “We are delighted to have a new owner that is aligned with our vision and strategy for the business, helping to drive the firm’s growth and build on its successful track record. This is a new chapter for PDI, but it is still ‘business as usual’ with our existing customers, and we will continue to operate as an independent provider of engineering and project-management services.”

PDI announced in December that it had won a £1.5 million contract from the Nigerian oil-services company Marine Platforms Ltd to provide technical support to the Chevron Agbami Phase 3 transport, installation and pre-commissioning project.