Swissco scores $115m rig deal

Singapore: Offshore services firm Swissco Holdings has entered into a joint venture with Union Offshore and secured a charter contract to provide a service rig to support an oil company in Asia Pacific.
The contract is for up to seven years and worth up to $115m. The rig, which the jv has already entered into an agreement to acquire, will be deployed around the first quarter of 2015 once it has been upgraded and refurbished.
Separately, the company has also secured a 12-month charter contract for a multipurpose vessel in the Middle East worth up to $3.87m.
Kelvin Tang, group chief investment officer of Swissco, said: “The acquisition by the Group and the completion of this joint venture mark another key milestone in the history of Swissco. The award of the long term charter contract is a testament of our successful strategy in acquiring cost-efficient rigs and operating in high-demand areas.” [12/11/14]

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