Singapore offshore company Swiber Holdings has formed a joint venture through subsidiary Swiber Offshore Construction with Hong Kong-based Hilong Marine Engineering.
The joint venture is called Ocentra Offshore and will focus on pipe-laying and integration of pipeline systems, offshore heavy lifting and installation, subsea tie-in and under water maintenance, barge/vessel management and chartering.
Swiber is taking a 49% stake in the jv while Hilong is taking a 51% controlling share.
The judicial managers of Swiber believe the joint venture provides an opportunity to expand its existing business of vessel chartering and an opportunity to capitalise on the collective experience of the shareholders.
