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Kreuz Holdings Ltd. has secured a string of contracts worth approximately $142 million from the Swiber Group for subsea installation work, and a third-party client for the provision of remotely operated vehicle (ROV) services. These services, which are to be performed largely in Southeast Asia, are scheduled to commence third quarter 2012 with completion expected fourth quarter 2013.
Kurush Contractor, executive director and chief executive officer of Kreuz, said, “Kreuz will continue to ride on the momentum of growth with a two-pronged approach – remaining committed in our provision of top quality services and also exploring opportunities to acquire state-of-the-art deep and shallow water vessels. Whilst we remain focused in Southeast Asia and India, we are actively bidding for work in other regions such as the Middle East to strengthen and diversify the depth of our order book and customer base.”