Offshore staff
SINGAPORE -- Swiber Holdings Ltd. has set up a subsidiary in Brunei to handle its $146.6 million contract with the Brunei Shell Petroleum Co. Sdn. Bhd.
Swiber has incorporated a wholly-owned subsidiary, Apecs Offshore Pte. Ltd., to provide services, installation engineering, and project management. The new entity will also provide transportation and installation of offshore facilities such as platforms, pipelines, and subsea cables off the coast of Brunei this year and in 2008.
The Shell contract was secured in February this year.
The Brunei Shell contract covers three major projects, namely pipeline replacement, Mampak development, and Seria North Flank development.
The pipeline project includes fabricating lines at Brunei Shell's yard in Telisai, Brunei, towing the lines, and installing them onsite.
The company's top priorities for the near term are to secure a significant foothold for more projects in the Sultanate, says Raymond Goh, Swiber executive chairman and CEO.
4/24/2007
