Milestones E-mail


Mr. Tan Pong Tyea (“PT Tan”) first ventured into offshore marine services industry through owning, managing, operating and chartering out offshore support vessels to customers in the Oil & Gas industry.


Asetanian was incorporated to further penetrate the offshore segment of the marine services industry. Asetanian provided ship management services to the offshore support vessels that were owned by PT Tan.


The fleet was expanded and a single purpose vessel-owning entity was set up to hold the expanded fleet. Total fleet included three single purpose vessels and eight Anchor Handling Tug Supply (AHTS) vessels.


As the business rapidly grew, PT Tan established a group holding company to consolidate all its activities and Oilfield Services Company Limited (“OSCL”) was incorporated.


On 2nd December 2004, OSCL was listed on SESDAQ through a reverse take-over of Sembawang Music Holdings Limited and changed its name to Falcon Energy Group (“FEG”) Limited with effect from 6 November 2006


In April, FEG completed the 100% acquisition of OSCL, making FEG the first Catalist-listed player in the marine and oil & gas industry, specialising in the production phase of oilfield activities.


In April FEG completed acquisition of Terasa-Star Shipping, CDS Oilfield Services and Longzhu Oilfield Services group of companies


In April 2010, FEG completed its acquisition of shares representing 29.07%equity interest in CH Offshore Ltd. From a subsidiary of SCOMI Marine Bhd.

 The Group established it Resources Division in December 2010.


In December 2011, the group announced that it had entered into an agreement with China Merchants Heavy Industry to construct two units of GustoMSC CJ46 jack-up rigs. These jack-up rigs were the Group’s first batch of jack-up drilling units. The Group also announced that it had entered into an agreement with  China Communication Import and Export Corporation  and Jiang Su Zheng Jiang Shipyard Group Co. Ltd to construct two 78 metre multi-functional support vessels     


In April 2013, the Group announced the commissioning of its new 300-men accommodation work barge, the MV Falcon Chief. The Group also announced that it had entered into a construction contract with Keppel FELS Limited in relation to the construction of one unit of KFELS Super B Class Self Elevating Offshore jack-up rig to the Group. The rig is designed with the capability of working in water depths up to 375ft and can drill up to 35,000fy depth.

Between May and September 2013, the group had entered into construction contracts to construct four units of Gusto MSC CJ46 jack-up rigs from Shanhaiguan Shipbuilding, a subsidiary of China Shipbuilding Industry Corporation. The rigs are designed with the capability of working in water depth up to 425ft and can drill up 35,000 ft depth

In August 2013, the Group announced that it had sold its investment stake in two units of GustoMSC CJ46 jack-up rigs which were ordered in 2011.