The UK company went into the US chasing a share of its subsea services market, which is tipped to grow 43% over the next five years.

Bibby Subsea president and managing director Andrew Duncan said the company had received significant interest since its launch.

"Bibby Subsea's preliminary $1 million contract with Cal Dive International to mobilise a work-class remotely operated vehicle on Cal Dive International's support vessel in Mexico, the Mystic Viking, is ongoing with talks in place to increase our ROV presence in the region," he said.

"Market demand for subsea services is forecast to grow by 43% over the next five years and Bibby Subsea is positioning itself as a major player within the ROV market, with an increased level of in-house capabilities, which we can offer to clients."

The company's services include project management and engineering, ROV support vessels and survey capabilities, diverless intervention, advanced remote systems and tooling packages, in-house survey and data processing, subsea construction support services, and inspection, repair and maintenance.