Swiber Appoints New VP for Floating Production Systems Business

Swiber Holdings Limited has appointed Mr. Ronald L. Schakosky, as its new Vice President for Swiber's Floating Production Systems Business.

The 59-year old American will play a strategic role in spearheading future regional operations and supporting the Group's focus on regional expansion, strategic alliances and activities in the Asia Pacific and Middle East markets. As part of his responsibilities as the new Vice President, Mr Schakosky will oversee the business development for Swiber's Floating, Storage and Offloading ("FSO") and Floating, Production, Storage and Offloading ("FPSO") and Mooring system business.

Having been in the oil and gas industry for over 25 years, Mr. Schakosky brings with him a wealth of experience from diverse geographical markets, namely Africa, Middle East and the Far East.

Tapping on his extensive onshore and offshore experience and knowledge in field engineering, field development, FSO and FPSO projects and operations, government and partner relations, Mr Schakosky will inject a new and innovative management style and perspective to the Group's operations.

Prior to joining Swiber, Mr Schakosky was the Facilities Manager at Newfield Peninsula Malaysia Inc where he was responsible for the management of all aspects of Front End Engineering, Construction and FSO conversion management and also played a key role in driving the company's offshore developments. Before that, he held various facilities and project management positions in regional companies such as Pearl Oil (Thailand) Ltd, Unocal Indonesia Inc., Kodeco Energy Ltd and MODEC Inc. in Jakarta, Petronas Carigali in Vietnam and Malaysia, and Dubai Petroleum Company in U.A.E.

"We are pleased to welcome Mr Schakosky into the Swiber family. We are particularly impressed with Mr Schakosky's knowledge of the oil and gas industry. With his strong expertise, we are confident that he will help sharpen and steer our FSO and FPSO business into the next level of growth in the Asia Pacific and Middle East markets," said Executive Chairman and CEO of Swiber, Mr Raymond Goh.

Mr. Schakosky holds a Bachelor of Science in Mechanical Engineering Midwestern University, USA.