Arab Shipbuilding & Repair Yard (Asry) said its offshore division Asry Offshore Services (AOS) has recorded revenues for 2012.

AOS plans to focus on consolidation in 2013, rather than expansion, which it pursued for the last five years.

AOS general manager Andy Shaw said "It's far more important for us that we continue to deliver top quality service, rather than compromising on quality for the sake of larger jobs."

Also, AOS is seeking to expand into rig business in the Saudi Arabian market, now in research of life-boat size rigs and land rigs, rather than drilling rigs.