Kreuz seals $15m subsea double

Subsea scoop: Singapore's Kreuz gains contract pair

Kreuz

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Bill Lehane

 09 January 2013 10:24 GMT

Singapore-based contractor gains southeast Asia works from Swiber Group and unnamed client

Singapore-based subsea service provider Kreuz Holdings has secured a pair of contracts from the Swiber Group and an undisclosed existing customer worth a total of $15.5 million.

Kreuz said that “a leading offshore customer” had ordered subsea installation works in southeast Asia worth $10 million that are to start immediately and be completed in the current quarter.

The $5.5 million contract with the Swiber Group, also a repeat customer, is for works slated to begin in the second or third quarter and finish by the end of September.

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