Swiber incorporate Kreuz Subsea
2008.07.09 -
Company News
The Board of Directors of Swiber Holdings Ltd (the “Company”) wishes to announce that Kreuz International Pte. Ltd. (“KI”), a wholly-owned subsidiary of the Company, has incorporated a new subsidiary known as “Kreuz Subsea Pte. Ltd.” (“Subsidiary”) in Singapore with the initial issued share capital of USD100,000.00. KI holds 70% equity interest in the share capital of the Subsidiary.
The principle activity of the Subsidiary is to engage in subsea services. The investment in the Subsidiary is funded through internal resources and is not expected to have any material financial impact on the consolidated net tangible assets per share and consolidated earnings per share of the Company and its Group for the current financial year ending 31 December 2008. None of the Directors or Substantial Shareholders of the Company has any interest in the above transactions, save for their interests arising by way of their directorships in the Company, KI and Subsidiary.
Petroleum Geo-Services ASA ('PGS' or the Company) announced today that it has entered into a definitive agreement to acquire Applied Geophysical Services, Inc. (AGS) for a price of USD 51 million, subject to certain adjustments for changes in working capital. PGS estimates an enterprise value for AGS of approximately USD 46 million. AGS is based in Houston, Texas and specializes in providing advanced depth imaging services. The transaction is expected to close during the course of this week.
Total announces the acquisition of a 40% interest in three exploration permits northeast of Ichthys on the Australian Browse Basin jointly with Inpex (60%, operator). These interests were held by ConocoPhillips. This acquisition is subject to the approval of the Australian authorities.
Rowan Companies, Inc. (NYSE:RDC) announced today that it has entered into contracts with Keppel AmFELS, Inc. for the construction of four Super 116E class jack-ups. The rigs will be built at AmFELS' Brownsville, Texas shipyard, with delivery scheduled at approximately four-month intervals beginning in the second quarter of 2010.
Gaz de France has acquired a 45% stake in the Alam El Shawish West licence in Egypt from Vegas Oil & Gas.
Trico Marine Services, Inc. (NASDAQ: TRMA) ("Trico") and Active Subsea ASA (NOTC: ASUB) ("Active Subsea") today announced that Trico intends to make a voluntary offer for all outstanding shares, options and warrants of Active Subsea.
