Swire Oilfield Services opens new yard. Expands in Malaysia
- Business & Finance
Swire Oilfield Services has increased its footprint in Malaysia with the opening of its new Kemaman base in partnership with Altus Oil & Gas Malaysia Sdn Bhd.
The new base at Kawasan Perindustrian Teluk Kalong comprises three acres of open yard space, an acre of covered warehouse and a further four acres of bonded warehouse currently under construction. According to Swire Oilfield Services, the facility has increased local employment opportunities and offers a range of services to customers including refurbishment, maintenance, inspection and logistics.
The company mobilized its first units in Kemaman in 2012, and has grown its fleet to meet customer demand in the area.
Swire Oilfield Services has invested $19 million USD in its South East Asian operations and has identified the market as central to its five-year growth strategy – Vision2020. Investments made last year were aimed at expanding the company’s cargo carrying unit rental fleet and developing bases in Malaysia, Thailand and Vietnam. This will be followed by a further $8 million USD capital spend on regional rental fleet in 2015 and an extension to the company’s Singapore yard, Swire Oilfield Services explained in the statement.
Alister Beck, General Manager South East Asia, said: “The opening of our new base in Kemaman represents a significant expansion of our presence here in Malaysia and has come as a direct result of increased demand for our units, indicating a strong market in South East Asia.”
“We see incredible potential in Malaysia and across South East Asia and expect to be able to expand into new countries within the region, introduce new products and services and continue to set the standard for quality, safety and innovation.”
Mike Ellsworth, CEO of Altus, said: “The Kemaman development is another example of the excellent cooperation between Swire Oilfield Services and Altus in their effort to serve their customers in South East Asia.”