Swire Pacific Offshore Acquires Seabed AS

Swire Pacific Offshore Operations (Pte) Limited (SPO) today announced the acquisition of Seabed AS, based in Bergen, Norway.

Seabed AS was founded in 2008 by Mr Hans Martin Gravdal, who has more than 30 years of experience within a wide range of subsea operations. Mr Gravdal and his experienced team will continue with the company which is to be renamed Swire Seabed AS. Along with the acquisition, SPO will take ownership of Seabed Worker, the 88m state of the art Multi-Purpose Support Vessel, and the high-specification subsea ROVs held by Seabed AS.

Neil Glenn, Managing Director of SPO, said, "We are very pleased to announce the acquisition of Seabed, through which we will increase our capabilities and extend the range of services we are able to offer to our customers. We look forward to working closely with Mr Gravdal and his team in Norway as they continue to grow and develop the business."

More details of Seabed AS can be found at www.seabedgroup.com

For more information please contact Rick Symington, Commercial Manager.

Swire Pacific Offshore (SPO) is a trusted name in the Offshore Marine Industry with a reputation for operational excellence and a proactive attitude towards Health, Safety and the Environment. Established in 1975, SPO operates a fleet of more than 75 vessels in every exploration region outside of North America. By the end of 2015, the fleet size will grow to more than 100 vessels.

Headquartered in Singapore, SPO and its subsidiaries have regional offices in Angola, Australia, Azerbaijan, Brazil, Brunei, Cameroon, Denmark, Equatorial Guinea, Ghana, India, Indonesia, Malaysia, New Zealand, Norway, Qatar, Philippines, Russia, Scotland and the United Arab Emirates.

SPO is a fully owned subsidiary of Swire Pacific Limited.