Swiber and Hilong Marine Set Up Joint Venture Company

Swiber’s wholly-owned subsidiary, Swiber Offshore Construction (SOC) has entered into a shareholder’s agreement with Hilong Marine Engineering (HME) to incorporate and operate a joint venture company in Singapore

The shareholders (51% Hilong and 49% Swiber )have named the new company – Ocentra Offshore.

The principal business of the JV company shall be the marketing and provision of services relating to pipe-laying and integration of pipeline system, offshore heavy lifting and installation, sub-sea tie-in and under water maintenance, barge/vessel management and chartering, and any other infrastructure works whether in Singapore or outside of Singapore.

The board of directors of the JV company will comprise three directors, of whom two directors will be appointed by HME and one director will be appointed by SOC.