(EnergyAsia, November 26 2012, Monday) — Swiss oilfield service company Weatherford International has expanded and consolidated its Singapore operations with the opening of a new multi-million dollar facility in Loyang.

For the first time in its 30-year history in Singapore, the company will house all its staff under one roof as part of an expansion to boost its existing 300-staff workforce to serve the Asia Pacific region.

At the new 20,000-sq m four-storey building, Weatherford plans to raise headcount by 30% to provide administrative, manufacturing, technology, assembly, testing, repair and maintenance services along with storage and warehousing facilities.

Peter Fontana, the company’s chief operating officer, said:

“This development is critical to the ongoing success of our business within Singapore and will provide a base from which we can coordinate and expand our operations across the Asia Pacific region. We have identified significant growth potential in emerging markets such as Bangladesh, Brunei, Vietnam, Philippines and Myanmar and our investment in this new facility is a milestone in the evolution of our business in these key areas.

“Our previous footprint in Singapore was spread across 11 different buildings or plots in two primary locations. The new state-of-the-art facility will provide the platform from which Weatherford can continue to keep pace with economic growth and conditions and maintain its position as a market-leading oilfield services company.

“The investment in this new facility is recognition of the strategic importance of Singapore to Weatherford in realising its ongoing ambitions in the emerging markets of the Asia Pacific region.”

Julian Ho, assistant managing director of the Singapore Economic Development Board, said:

“Weatherford’s decision to consolidate its various facilities in Singapore into this new multi-million dollar location positions it for growth and expansion. It reaffirms Singapore’s attractiveness as the leading hub in the Asia Pacific region for the oil and gas equipment & services industry, and signifies a new milestone in our 30-year partnership. Our skilled workforce, excellent logistics infrastructure and reputation for quality make Singapore an ideal location for Weatherford to better serve its customers in the region and beyond.”

Operating in over 100 countries with a workforce of over 60,000 people, Weatherford is a global leader in supplying innovative mechanical solutions, technology and services for oil and gas drilling and production.