Swiber Applies for Judicial Management Instead of Liquidation
Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation. Swiber shocked markets earlier this week by filing for liquidation, as it faced hundreds of million of dollars in debt and a decline in orders, becoming the largest local company to fall victim to the slump in oil prices. Judicial management allows a financially-distressed company the room to return to financial health under the supervision of the Singapore Court rather than a more disruptive process of liquidation that reduces the
Swiber Wins $100 Mln Contract for NOC
Swiber Holdings Limited, provider of integrated offshore construction and marine support and engineering services to the oil and gas industry, informs it has secured a contract worth about $100 million to provide engineering, procurement, installation and construction services for a National Oil Company (NOC) in South Asia. This latest project, which includes pipelines and subsea installation works, commences immediately and is expected to be completed in the first half of 2017. Swiber’s Group Chief Executive Officer and President Francis Wong said, "We are pleased to have
Harkand Awarded $5 mil Diving Support Contract
Harkand has secured a USD 5 million contract in Mexico to perform saturation diving services in support of an offshore pipeline project for offshore construction company Swiber Offshore Mexico S.A de C.V. The global subsea inspection, repair, maintenance, and light construction company has recently finalized a joint venture with Arena Servicios de Mexico, a local Mexican company involved in infrastructure projects as their exclusive vehicle to deliver services in Mexico. Harkand Arena will complete a wide ranging scope of work, including the installation of risers and expansion spools
Swiber Wins Big Latin America EPIC Contract
Construction & support services provider to the offshore oil and gas industry, Singapore's Swiber Holidngs, says it has won an Engineering, Procurement, Installation and Construction (“EPIC”) contract in Latin America for subsea development work including pipeline tie-in work, with an aggregate value of US$80-million. The project will commence immediately and is expected to complete in 2015. Commented Mr. Francis Wong, Group Chief Executive Officer and President of Swiber, “We are pleased with this project win as it is testament to Swiber’s ability to successfully develop
Swiber Nets US$ 435-million Offshore Contracts
Singapore's Swiber Holdings Limited, support services provider to the offshore oil & gas industry, announce they have clinched sizeable complex offshore construction contracts. Contract wins comprise approximately US$330 million under the Swiber Group and approximately US$105 million under the Swiber Group joint venture company. These contracts will commence immediately and are expected to be completed by 2015. Commented Mr. Francis Wong, Group Chief Executive Officer and President of Swiber, “The offshore segment remains exciting and this round of sizeable contract wins bear
New Subsea Piledriver Uses Seawater
. This sustainable product development minimises potential oil spill hazards in the marine environment and presents new opportunities for deep-water offshore pile driving that will be beneficial to the future growth of offshore construction. The S-90W IHC Waterhammer has been utilised in conjunction with Swiber Offshore Construction. The installation contractor used the advanced pile-driving hammer to install four foundation piles on the subsea PLEM (pipeline end manifold) located approximately 210km off the west coast of Mumbai, India. The Ø 1.1m piles were successfully driven into the seabed
Subsea Installation with IHC Waterhammer
; This sustainable product development minimises potential oil spill hazards in the marine environment and presents new opportunities for deep-water offshore pile driving that will be beneficial to the future growth of offshore construction. The S-90W IHC Waterhammer has been utilised in conjunction with Swiber Offshore Construction. The installation contractor used the advanced pile-driving hammer to install four foundation piles on the subsea PLEM (pipeline end manifold) located approximately 210km off the west coast of Mumbai, India. The Ø 1.1m piles were successfully driven into the seabed to
Swiber Wins Huge SE Asia 2013 Contracts
Singapore's Swiber Holdings has been awarded subsea contracts in SE Asia worth approximately US$153-million. The contracts, with oil industry majors, mark the first wins in 2013, largely entail transportation and installation of pipelines and offshore structures in Southeast Asia. Work for these contracts are expected to commence immediately with expected completion by 2013. Commented Mr. Francis Wong, Group Chief Executive Officer and President of Swiber: "The fast growing economies in Southeast Asia continues to drive energy demand, leading to a surge in offshore construction activitie
Swiber Holdings Report Profit Surge
Singapore-based offshore energy group Swiber Holdings issues its Q2 & HY 2012 financial report. Swiber Holdings provide offshore construction, offshore marine, subsea & offshore development services. 2Q 2012 highlights: Net Profit surges 66.0% to US$20.9 million Revenue rises 27.1% to US$229.6 million HY 2012 highlights: Net Profit rose 36.9% to US$33.5 million Revenue increases 28.0% to US$424.0 million Record order book of approximately US$1.6 billion, expected to contribute to Group’s results over the next two years Swiber considers
February 2025
