Ten years ago a north east fishing firm took the plunge into the oil and gas industry – and never looked back.
Now Maritime Developments is expanding its services to other continents, launching a new equipment and personnel hire service and enjoying booming growth with a 110% increase in revenue for 2013, compared to the previous year.
Ahead of this year’s Subsea Expo, Energy Voice spoke to the firm’s chief executive, Derek Smith, about the transition between the two industries and the decision behind it.
“Although there is a viable part of the [fishing] industry left, the volume significantly reduced and the amount of vessels, and so did the opportunities for companies like ourselves – so we moved into the oil industry,” Smith said.
“Instead of putting a fishing net into the water [now] we’re putting a pipeline – the sizes changed, the loads are significantly higher but the principal is the same.”
Watch our full interview with Derek Smith below.