Coastal Contracts to Setup Base in South America

Friday / May 22, 2015

Coastal Contracts to Setup Base in South AmericaAccording to Ng Chin Heng, Executive Chairman of Coastal Contracts, the company is considering establishing a local presence in South America after its success in Mexico where it has sold two new OSVs to new customers.

Ng commented that they intended to ramp up their marketing efforts in the South America by leveraging on recent inroads made in Mexico. He added that they were currently exploring opportunities to establish a local presence in South America in the second half of 2015, in order to pursue the expansion of both, their OSV sales and oil and gas division in the region.

He added that while they understood that there could be a slowdown in new OSV orders in the year ahead due to ongoing market uncertainties they would continue to pursue potential growth areas in order to strengthen their revenue base as well as ensure long term business sustainability.

Coastal Contracts has established a subsidiary in Mexico, CoastOil SA de CV, in the beginning of this year, to undertake the leasing of offshore oil and gas assets, as well as the provision of oil and gas drilling, engineering and other ancillary services.

SNM Events News Service
Contact Editor:

Get Amazing Stories

Get great contents delivered straight to your inbox everyday, just a click away, Sign Up Now.
First Name
Last Name
Email address