Thursday, September 27, 2007

Swiber teams up in Vietnam

Singapore-based offshore contractor Swiber Holdings has entered into an agreement with two Vietnamese state-linked companies to jointly explore oil and gas opportunities in Vietnam and overseas.


Swiber said it had signed broad co-operation agreements with PetroVietnam Construction and the Vietsovpetro joint venture. PetroVietnam Construction is a listed subsidiary of state-owned PetroVietnam and provides engineering and construction activities for the oil and gas sector. Vietsovpetro is a joint venture company established in 1981 between the governments of Vietnam and the former Soviet Union.


The three-year agreement will mark Swiber’s entry into the Vietnam market. The company said it hoped the deal would allow the parties to combine resources to bid and execute oil and gas services contracts in the country.


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