Swiber Incorporates Subsidiary in India

Swiber Holdings Limited, a niche service provider to the offshore oil and gas industry, has incorporated a wholly owned subsidiary, Swiber Offshore India Private Limited, in Mumbai, India. Swiber India will act as a platform from which the Group can tap on business opportunities in the region.

At the same time, Swiber also had appointed industry veteran Mr. Bijan Kumar (BK) Mahapatra as Vice President of the Group's Middle East and India Operations.

Mr. Mahapatra has had an illustrious career with over 24 years of experience in the oil and gas; petrochemical; marine and civil engineering industries where he was responsible for project management, operations and business development. During his years in these industries, Mr. Mahapatra has consistently delivered improved results in the projects he handled; as well as a proven track record of successfully penetrating new markets and securing contracts and strategic partnerships.

Prior to joining Swiber, Mr. Mahapatra was the Regional Manager (India and Middle East Asia) and Country Manager (India) of another EPCIC player. Based in Mumbai, he was responsible for the management of all their activities in India and Middle East Asia. Tapping on his extensive industry experience and network of contacts, Mr. Mahapatra will be in charge of growing the Group's EPCIC activities in the fast growing Middle East and India region.

Said Mr. Raymond Goh, Swiber's Executive Chairman and Chief Executive Officer, "We are pleased to welcome BK into Swiber's team of 'champions'. His appointment is timely indeed as we are growing very rapidly in region. Having firmly established our dominance as an offshore EPCIC services provider in South East Asia, we now intend to strengthen our foothold in the Middle East and India. Our branch office in Mumbai, which gives us an on-the-ground presence, and BK, who has the necessary expertise and experience, provide the right mix to achieve this."

Said Mr. Mahapatra, "This is a great opportunity for me as the Middle East and India regions are hot spots for offshore oil and gas activities. Leveraging on my experience and established network of business contacts in the Middle East and India, I look forward to being an integral part of Swiber's team and to further establish our market leadership in offshore EPCIC and marine support services in these regions."

46 year-old Mr. Mahapatra, who is married with two children, graduated from the University of Kashmir, Kashmir, India with a Bachelor of Engineering (Civil).