Swiber Conquest achieves major milestone

Projects and Operations - September 4, 2008

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Swiber Holdings Limited has announced that its flagship pipelay barge Swiber Conquest has reached a major milestone achieving 150km of pipelay work in a period of six months.

The barge has been operating non-stop since the commissioning for three major projects in Indonesia, Brunei, and Malaysia.

Across all the projects, the barge has installed a total of 11 pipelines ranging from 6in to 16in in diameter in water depths ranging from 5m to 55m, and has achieved a lay rate of as high as 3.5 km in one day.

The barge is currently installing pipelines off the coast of Sarawak, Malaysia, after which it will install pipelines in Natuna Sea, Indonesia.

Mr Raymond Goh, Swiber’s Executive Chairman and Group CEO, said: "This is a milestone achievement and a large step in our long term growth strategy. Our goal has always been to acquire state-of-the-art assets and technologies that add value to our offshore services. Swiber Conquest is one such asset."

"We will continue to execute our fleet expansion programme with the objective to sharpen our competitive edge and enhance our position as a world class service provider in the offshore industry.”

Currently, Swiber operates a fleet of 30 owned vessels, comprising 15 tug boats, 10 barges, one crane barge (Dalihao), one jack up barge, one accommodation barge, one submersible barge and one pipelay barge (Swiber Conquest). In addition, 21 vessels, comprising nine tug boats, three barges, two subsea support vessels, two accommodation barges, one 4,180 tons derrick crane barge, three pipelay barges, and one deepwater drilling vessel, are currently under construction/conversion.

With the addition of these new vessels, Swiber’s fleet of offshore marine vessels will be increased to 51 by the end of FY2010, significantly boosting the Group’s capabilities and competitive edge in the offshore marine support and EPCIC services sector.


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