A subsea company which has seen an 18-fold increase in business since it opened in 2002 is to almost triple its workforce.

Integrated Subsea Services (ISS) has invested £15m in eight remotely operated vehicles (ROVs) to service demand for its underwater contracting services.

The company was formed by Ian Herd and Bruce Webster in 2002 with two ROVs and achieved £2.5m of sales in its first full year.

This year, turnover is forecast to exceed £46m and the payroll is to rise from 32 to 92.

In addition, the company has a pool of more than 350 ROV and diving personnel.

ISS provides specialist diving and ROV services for all kinds of subsea oil and gas work from new field installation to subsea well intervention and abandonment to pipeline and platform repair and maintenance. This week it will embark on a recruitment drive to find a mix of experienced ROV operators and trainees.

The eight Triton ROVs which it has bought, manufactured by Perry Slingsby, are the latest on the market. The vehicles are capable of operating in water depths of up to 4000 metres.

When they are delivered, it will bring the ISS fleet to 20 ROVs all capable of providing advanced field construction, inspection and drill support services around the world, particularly in the deepwater provinces of West Africa and the Gulf of Mexico.

They are also suitable for Egypt, Azerbaijan and the North Sea, where the firm has contracts.

"In the early days we were largely dependent on agency personnel," said managing director Herd. "We have been developing our own workforce with attractive packages, recognised training and clear progression opportunities within an exciting and dynamic, growing business.

"We have spent the last four-to-five years quietly building the business in the North Sea and are proud of the success we have achieved. The next stage in our development will be to take advantage of the global demand for subsea services, focusing on the deepwater provinces in the Gulf of Mexico and West Africa.

"The shortage of people and equipment in our sector is worsening, and investing in our fleet and our people puts us in pole position to meet demand."