Aberdeen engineering service firm PD&MS has launched new operations in Brazil and Dundee.
The Scottish business hopes the move will give the company a £50million turnover and substantial job growth.
PD&MS group, part of the Teesside-based Wilton Group, has created Wilton Dundee, a rig-upgrade and vessel-mobilisation business, which has already turned over £3million since being launched in February.
The group also opened a base in Brazil, called PD&MS Brazil, is growing its PD&MS Southern North Sea business in East Anglia.
PD&MS chief executive David Mackay said there would also be growth in Aberdeen.
The firm wants to increase their 150-strong Granite City workforce by 60 people by the nd of 2012.
He told Press and Journal: “We plan to grow 25% year-on-year.
“We are taking on bigger and bigger projects. We are not pretending to be a big player, but we aim to be the top end of our market.”
In the year to the end of June, PD&MS turned over £32million compared to £24million in 2010.
Mr Macky has said the company wants to turn over £40million next year and £50million the year after.
The company, which focuses on maintenance for platforms and rigs, moved to Dundee after it won a services agreement with Rowan Companies.
Mr McKay said: “Historically, we would have done design engineering for the work or supplied people to the shipyards.
“The Dundee site came up at the right time for us. When we secured the rig support contract with Rowan, it was its preferred port.”
The Wilton Dundee division, employing 50 people, has worked on rigs including the Rowan Gorilla V, Rowan Norway and Rowan Viking, and hopes to hit £12million turnover by the end of the year.