North-east oil service firm flexlife is predicting growth of around 70% in 2009-10, with turnover expected to soar to £5million.
The growth is all the more remarkable considering Aberdeen-based flexlife is less than three years old.
It is wholly-owned by directors Stuart Mitchell, John Marsden and Carl-Petter Halvorsen, and currently has a 10-strong team. But there are plans to take on an additional eight people over the next 12 months. The firm said yesterday its expansion was mainly driven through work in the North Sea and Brazil.
Mr Mitchell said: “The past year has been an excellent one for flexlife with the launch of our breakthrough patented scanning tech nology.”
Flexlife has already secured commissions for the technology from a string of clients, including Hess and Statoil, and aims to reach the stage of commercialisation and product launch later this year.
The firm, which is based at Spires Business Park, Bucksburn, also has plans to open offices in Brazil and Australia before the end of 2009.
Mr Mitchell said: “We had hoped to do so earlier in the year but it took a little longer than planned because of the volume of work we had.”
Flexlife’s core business is the delivery of subsea and riser pipe projects. The firm was established after Mr Mitchell, Mr Marsden and Mr Halvorsen identified a gap in the market for an innovative consultancy to offer field-proven solutions, deliver them and also deal with integrity management.
Early contracts saw it complete work for Apache North Sea, Total E&P UK and Maersk Oil, as well as provide engineering support on various projects internationally for Subsea 7.
Despite still being in its infancy, the company has impressed industry peers in winning or being short-listed for a clutch of accolades.
It was named best newcomer at this year’s Subsea UK Awards, is currently in the running for a Scottish Offshore Achievement honour and is also among the finalists in two categories of the 2009 National Business Awards for Scotland.