Swissco secures contracts worth US$ 94.8 million

The Board of Directors of Swisco Holdings Limited has announced that four wholy-owned subsidiaries of Scot and English Energy Pte Ltd have entered into charter contracts worth a total of approximately US$ 94.8 million. The contracts will last for up to a period of two years, providing four mobile offshore drilling units to be used by an oil major to support its oil and gas activities in Latin America. The charters are conditional upon the delivery of such mobile offshore drilling units to the subsidiaries of Scot and English Energy, which is a subsidiary of the Group.

Upon deployment, the above mentioned charters are expected to have a positive impact on the Group’s earnings per share and net tangible assets per share for the financial year ending 31 December 2014. None of the directors or substantial shareholders of the Company has any interest, direct or indirect, in the above transactions other than through their respective shareholding interests in the Company.

Adapted from press release by Hannah Priestley-Eaton

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