Singapore: Kreuz Wins Third-Party Subsea Project

Kreuz Holdings Limited, a subsea service provider for the oil and gas industry, announced that it has won a contract worth approximately US$13 million from a leading offshore company in the oil and gas business to provide subsea installation services in Southeast Asia. The work is scheduled to commence in the third quarter of 2012 for a duration of approximately three months, with option for further extension.

Mr Kurush Contractor, Executive Director and CEO of Kreuz, said: “We are pleased to win this third-party Southeast Asian project with our recently acquired construction class diving support vessel. The win attests to our strong capabilities and proven track record in the subsea industry. We shall continue to strive to deliver to our clients safe and quality services, thereby establishing the “Kreuz” brand as a dependable name in the industry.”

“With our in-depth understanding of and unparalleled experience in subsea installation in Southeast Asian waters, we will continue to provide quality services to both the Swiber Group and third-party clients.”

Press Release, July 27, 2012

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