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    Swiber gains momentum offshore

    Company News // August 30, 2011

    Swiber Holdings Limited†has announced that†its orderbook has gained momentum, growing to US$777 million.

    This follows contracts awarded to its offshore subsea diving subsidiary, Kreuz Holdings Limited†totalling approximately US$25 million, with a US$10 million option, from a leading offshore construction company in the oil and gas business located in the Middle East.

    This is the third consecutive quarter of growth in the groupís order book, surpassing the second quarter of FY2011ís healthy orderbook of US$752 million.

    Swiber will be utilising its in-house fleet of vessels to perform the full spectrum of projects comprising subsea installation works, which will commence in the third quarter of FY2011.

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