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 $100 million to provide engineering, procurement, installation and construction services for a National Oil Company (NOC) in South Asia. This latest project, which includes pipelines and subsea installation works, commences immediately and is expected to be completed in the first half of 2017. Swiber’s Group Chief Executive Officer and President Francis Wong said, "We are pleased to have
Swiber Nets US$ 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
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
