Loyang offshore supply base to undergo facelift

Offshore staff

SINGAPORE -- The 100-hectare (247-acre) Loyang offshore supply base in Singapore is to be redeveloped into a "one-stop shop for exploration and production hub for Asia," Singapore's Minister of State for Trade & Industry, S. Iswaran, said today.

The redeveloped mother base, a home to 200 oil and gas companies operating in Asia, will be designed to better serve the needs of the Asian offshore industry, Iswaran told attendees at the opening of the Offshore Southeast Asia conference and exhibition.

Iswaran pointed out the tremendous growth of Singapore-based oil and gas equipment manufacturing companies, with 2005 output expanding by 68% to $2.6 billion.

Iswaran expressed Singapore's commitment to the growing offshore oil and gas industry, pointing out the global position the city-state's shipyards have achieved in rig building and ship conversions.

12/05/2006