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Terra Solutions is poised to invest an extra £2.1m (€2.3m) to expand its drilling operations.
The Newry firm provides services to gas and water pipe laying works.
Around eight jobs are expected to be created in Newry, with 14 more positions to open up overseas.
Ulster Bank has supported the move.
Damian Milligan from the bank said: "Terra Solutions was established to specialise in tunnelling and pipejacking for the laying of water, gas, sewerage, drainage and oil pipelines as well as for laying telecommunications cables.
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"Following the acquisition it is investing in a new facility in Newry, which will provide a state-of-the-art base for the company."
Terra, which took over McAllister Brothers Ltd, operates across the UK. The firm has continued to grow operations in Kuwait and other Gulf states including Bahrain, Qatar and Saudi Arabia.
Management has set its sights on expanding market share in Ireland.
Terra has progressed this by attaining work for the state, which includes a joint venture with Dublin-based SIAC Construction for the laying of pipelines at Dublin Bay.
Barry and Michael McAllister, former directors and shareholders of McAllister Brothers, recently established Terra Solutions.
Mr Milligan said: "Barry and Michael have vast experience of this sector. With the existing and new contracts in place and planned technological investment within the company in 2009, we are confident the business is very well placed for continuing growth."
(PR/KMcA)
