Swire India invests

Vol 14, PW 16 (10 Feb 11) News in Brief

UK-based Swire Oilfield Services has invested $2.3m to set up a new oilfield services business in India’s growing market, based at Kakinada in Andhra Pradesh.

Swire began selling and renting out cargo containers from January 21 to Indian oil and gas companies. “Already 200 of our units have been contracted to many of the major operators and service providers here,” says Nithin Menon, director of Swire Oilfield Services’ Indian unit.

Swire says its containers are Det Norske Veritas certified and meet all the necessary safety standards for offshore oil and gas operations, unlike those used by Indian operators to date. Indian operators until now have been using cargo containers built after sawing discarded shipping containers into two.

Menon sees good growth potential for Swire in India as local operators are increasingly accepting “safer working practices” at the behest of the DGH and the shipping regulator. Swire is headquartered in Aberdeen, Scotland, and operates in over 30 countries.