The investment will allow the company's Standardised Modular Injection System (SMIS) to be developed.
In addition, Scottish Enterprise will provide a £434,126 R&D grant towards the project, which will be delivered at the oil and gas firms site in Aberdeen.
Speaking during a visit to Aberdeen, Energy Minister Fergus Ewing said: "The oil and gas industry leadership group, of which I am co-chair, has published a refreshed oil and gas strategy offering a shared path for industry, governments and the Oil and Gas Authority to follow in working together to support the industry and its world-class supply chain.
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"With 22 billion barrels of oil and gas remaining, the sector can still have a strong future, and I am pleased to welcome this investment."
General Manager of OneSubsea, Daniele Petrone, added: "We are delighted to announce, in conjunction with Scottish Enterprise grant assisted funding, OneSubsea are progressing with the design, development, prototype and testing of a Standardised Modular Injection System (SMIS) using a novel electrically driven topside deployment system and non-collapsible composite tubing for the subsea intervention market.
"It is anticipated that this will open new markets within some of the most challenging Oil & Gas environments, create some five new jobs and secure employment for a further 35."
(LM)
