Swiber Forms JV with Hilong Marine

Laxman Pai
Wednesday, July 31, 2019

Singapore offshore company Swiber Holdings' wholly-owned subsidiary, Swiber Offshore Construction (SOC) has entered into a shareholder's agreement with Hilong Marine Engineering (HME) to establish a joint venture company in Singapore.

The shareholders (51% Hilong and 49% Swiber) have named the new company – Ocentra Offshore. New joint venture to target offshore construction and installation sector.

According to the company, the principal business of the new JV firm will be pipe-laying and integration of pipeline systems, offshore heavy lifting and installation, subsea tie-in and underwater maintenance, as well as barge and vessel management and chartering.

The JV Company will be held by Hilong Marine Engineering and SOC as to 51% and 49%, respectively, representing their cash contributions to the JV Company for the initial paid-up share capital of the JV Company.

The board of directors of the JV Company will comprise three directors, of which two directors will be appointed by Hilong Marine Engineering, and one director will be appointed by SOC.

Hilong Marine Engineering specializes in offshore petroleum engineering business and transportation and installation (T&I) project engineering and management.

SOC is a highly qualified and well-regarded contractor in the EPCI business, possessing in-house engineering capabilities and seasoned management in the oil and gas market, and have executed projects all over the world.

With their rich experience in tendering, EPCI and T&I projects, SOC have access to major oil companies and clients.

Categories: Offshore Contract Offshore Energy Subsea Construction Installation

Related Stories

Seatrium Secures ABS Backing for Deepwater FPSO Design

Aquaterra Energy Nets Subsea Analysis Contracts with INPEX off Indonesia

Saipem Bags $1.5B Contract for Türkiye Largest Offshore Gas Field

PTTEP Hires McDermott for Deepwater Subsea Job off Malaysia

Subsea7 Secures Work at Black Sea Field off Türkiye

PXGEO Nets First Seismic Survey off Malaysia

Saipem Marks First Steel Cut for Tangguh UCC Project at Karimun Yard

Inpex Kicks Off FEED Work for Abadi LNG Scheme Offshore Indonesia

Yinson, PTSC Get $600M Contract for Vietnam-Bound FSO

China Rolls Out 17MW Floating Wind Turbine Prototype

Current News

MODEC Ramps Up Hammerhead FPSO Work After ExxonMobil's Go-Ahead

Aesen, DOC JV Targets Subsea Cable Logistics

Timor Gap Boosts Stake in Finder Energy’s Timor-Leste Oil Fields

SBM Offshore Starts Construction of FSO for Trion Oil Field off Mexico

Russia Targets 2028 for Sakhalin-3 Gas Project Start Up

Seatrium Secures ABS Backing for Deepwater FPSO Design

MDL Secures Cable Laying Job in Asia Pacific

Hibiscus Petroleum Starts Drilling at Teal West Field off UK

Yinson Production Nets DNV Approval for New FPSO Hull Design

Hanwha Ocean's Tidal Action Drillship Starts Maiden Job with Petrobras

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com