Dyna-Mac Holdings, the Singapore oil and gas fabricator, said it has been able to bring in workers from India and Bangladesh to help it "protect the schedules of our projects".
The company specialises in the construction of topsides processing modules for floating production, storage and offloading vessels, and has a net order book worth S$407 million ($300.1 million) as at 12 November 2021.
Dyna-Mac said in its quarterly business update that the Covid-19 pandemic continues to have an impact on the economy and global supply chains.
Border controls and strict Covid-19 restrictions continue to pose a challenge for the company.
"With the help of the government agencies and Association of Singapore Marine Industries, we managed to bring in workers from India and Bangladesh progressively. These additional workers will reinforce our manpower resource as well as protect the schedules of our projects," Dyna-Mac said.
With the rise in the oil price, Dyna-Mac said final investment decisions for FPSO projects could be brought forward, and that the company has been receiving serious enquiries both for its Singapore and China operations.
Yard expansion activities are on track for meeting potential demand, while the company is building up middle management and manpower.
Net profit for the first nine months of 2021 was S$3.6 million, a big improvement on the loss of S$46.8 million in the same period of 2020.