A Shipley oilfield services company which does business all over the world has announced nearly £20 million worth of orders this year.

Global Marine Energy has contracts worth £19.4 million on its order book for the next 12 months.

The firm has acquired £10 million worth of new business since November alone and expects to announce a series of contracts in the coming weeks.

The firm has its headquarters in Shipley, where most of the design and engineering planning is done. The manufacturing is then done at its bases in Houston, Texas; Brazil and Singapore.

Finance director Andrew Gibson said: "95 per cent of our design work is done in Shipley.

"The majority of our business is done in the offshore oil and gas industries.

"Some of our business also involves producing access equipment such as doors etc for nuclear submarines and the Ark Royal.

"We turned over £12 million last year and are hoping to turn over £20 million this year."

The current contracts that the firm is working on are based in Brazil and Malaysia.

The firm was founded in 1988 and now employs 250 worldwide, 45 of whom are based at its Shipley headquarters.

The company was listed on the Alternative Investment Market (AIM) in 2001 and was restructured into two separate divisions in 2003, following the appointment of new chairman Philip Wood.

Patriot provides handling equipment to the offshore oil and gas industries while NIM Engineering ltd provides marine access to the gas and oil industries.

The firm, based on Wharf Street, changed its name from MOS International last year.

The company made the announcement of its new business contracts following a downturn in profits last year.

The losses, caused by extensive restructuring at the company, were overcome in the final quarter of the year up to March 2006 as the firm looks towards a brighter financial year.

Mr Wood said: "The year to March 2006 has still been one of substantial growth and, most importantly, the company has returned to profit in the final quarter."