Singapore-based Swiber Holdings said its creditors have requested for an extension of judicial management period to October 31, 2018.
The judicial managers have also filed applications for an extension until March 31, 2018 to send creditors a statement of proposals and summon a creditors' meeting, the company said in a statement late on Monday evening.
Swiber Holdings embarked on a court-led restructuring of its debt last year as the energy support sector struggles from three years of weak oil prices.
The liquidation filing came after a nearly 90 percent plunge in share prices from mid-2014 levels that reduced the oil and gas firm's market value to just S$50 million. The trading in Swiber's stock has been suspended since then.
However, Swiber reversed the application for winding up and requested for placing itself under judicial management.
Swiber Holdings' said in August that the creditors had commenced the voluntary liquidation of its unit Swiber Engineering.
The debt-laden firm also defaulted on its coupon payment due on August 2.