Kreuz's contract wins for FY2011 exceeds US$100m

Kreuz Holdings, the subsea services provider for the oil and gas industry, says the group’s order wins has increased to over US$100 million ($129.4 million) this year after securing its fourth subsea installation contract win worth US$6.23 million from a leading offshore company in the oil and gas business located in East Asia. The subsea installation works, which shall be performed in Southeast Asia, are scheduled to start in 4QFY2011 and end in 2QFY2012.