SEMBCORP Industries Ltd., owner of the world's second-biggest oil-rig maker, posted 2.2 per cent profit growth in the third quarter on increased production of offshore structures at its marine unit, reported Bloomberg news.

Net income rose to S$148.1 million, or 8.26 Singapore cents a share, in the three months ended in September, from S$144.9 million, or 8.08 cents, a year earlier, the company said on Friday in a statement. Sales gained 3 per cent to S$2.58 billion.

Depleted reserves and long-term energy demands are prompting oil companies, including Petroleo Brasileiro SA and Royal Dutch Shell Plc, to find new fields in deeper waters, increasing the need for more drilling and production platforms.

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