OIL and gas services provider Wah Seong Corp (WSC) Bhd is expanding its oil and gas operations to meet rising demand in the global deepwater development, says deputy managing director Giancarlo Maccagno.

He dismissed a recent news report of a consortium, comprising Bredero Shaw and two private equity firms known as 4D and Sophia, was favoured over WSC for their bid for Socotherm, as a minor setback.

WSC saw it as part and parcel of a bidding process, he said.

'The near monopoly created by the consortium in many regions actually presents an opportunity for us as its entrance into these market is seen as keeping a competitive environment,' he told a media briefing after the company's 10th annual general meeting in Penang today.

Maccagno also said WSC planned to set up a pipe-coating plant in Europe to provide better service in that region. -- Bernama