Both Musicwhiz and La Papillion wrote about Swiber in their blog this week. While I know Musicwhiz is a shareholder, I believe La Papillion is one as well. Swiber - Joint Venture with Principia By: musicwhiz On 12 February, Swiber announced that they had entered into a Joint Venture (JV) with Principia Recherche & Development SA ("Principia") to undertake the supply and sale of studies, design of offshore and marine facilities as well as related services in the offshore and marine industry in South-East Asia. The proposed JV will be 51% owned by Principia and 49% owned by Swiber's wholly-owned subsidiary, Kreuz International Pte Ltd. The interesting fact is that Principia is a subsidiary of AREVA within the AREVA TA Business Unit; and this unit specializes in scientific engineering studies and in the design and sale of software applications which serve the worldwide offshore and marine business. AREVA is the world leader in nuclear power and is the only company to cover all industrial activities within this field. Principia, being a subsidiary of AREVA, provides services to customers primarily involved in high technology production. This would imply that they are technologically advanced in terms of the solutions and sofware they provide to their customers, and that Swiber is leveraging on their expertise to offer value-added services within the oil and gas industry in South-East Asia. Read more...
Swiber LOI; Pac andes 3Q results By: La Papillion 1. Swiber was awarded LOI for US$35 million project in offshore Indonesia. This latest LOI represents an extension of a contract awarded to Swiber in Nov 07 for a major international oil conglomerate based in Indonesia. Altogether, the 2 contracts is worth abot US$66 million in all. If I didn't remember wrongly, this is the first contract awarded since the start of year 2008. More to come pls! Price rebounded up to close at 2.120. Read more...