Swiber Receives Contract Extension from Brunei Shell Petroleum Company SDN BHD

Thursday, Dec 24, 2009

Swiber Holdings Limited (“Swiber” or together with its subsidiaries, the “Group”), a world class integrated construction and support services provider to the offshore oil and gas industry, today announced that its long running customer, Brunei Shell Petroleum (BSP) Company Sdn Bhd, has extended its current contract to provide transportation and installation of offshore structures and pipelines.

BSP is one of the largest energy companies in Asia. “This extension by BSP demonstrates the value proposition in the fully integrated service offerings that we bring to our customers,” said Mr. Raymond Goh, Executive Chairman and Group CEO of Swiber. “We are honoured and grateful for the trust and support of our clients and will definitely put in our utmost efforts to ensure that we live up to their expectations.”

“Brunei, being the third largest oil producer in South East Asia, and the fourth largest liquefied natural opportunities to provide offshore support and maintenance services to Brunei’s hydrocarbon industry,” said Mr. Goh.

As at December 2009, Swiber operates a modern and sophisticated fleet of 44 vessels comprising of 34 offshore vessels and 10 construction vessels, with 80% of its fleet younger than 4 years old. The Group continues to enhance its in-house capabilities to provide clients with fully integrated services they require to operate in the offshore oil fields. The Group has recently expanded the diving division of its Offshore Support Services. Today, the Group has one of the largest team of divers to provide subsea diving services in the industry.

Source: Swiber