Offshore staff

SINGAPORE -- The order book for Singapore's SembCorp Marine Ltd. amounted to $4.64 billion in mid-February 2007, with project deliveries scheduled through 2010.

"2006 has been an exceptional year of performance for SembCorp. We are now focused and are poised for further growth with sound fundamentals in our utilities, and marine and offshore engineering businesses. Backed further by our strong balance sheet and favorable industry prospects, SembCorp is in a better position than it has ever been to seize global opportunities as they arise, and grow," says Tang Kin Fei, SembCorp Group president and CEO.

Tan also reports that prospects for FPSOs, FSOs, and offshore platforms continue to strengthen. He projects strong demand for rig building, a sector enjoying high charter rates and near 100% utilization levels.

Last year, SembCorp Marine garnered $2.23 billion in contracts, up from $1.38 billion in 2005.

Barring unforeseen circumstances, SembCorp says, it expects overall operating performance in 2007 to be better than that of 2006.

2/16/2007