Swiber nets $125m contract for offshore work

Swiber has secured a contract worth $125m from a South Asian oil and gas operator to perform offshore work from the fourth quarter this year.


The contract involves engineering, procurement, transportation and installation of several pipelines in South Asia including platform modifications, Swiber announced Thursday. The Singapore-listed offshore services provider expects to complete the project by the second quarter of 2012. This contract follows closely an earlier $34m contract won for transportation, installation and subsea work from an oil company in Southeast Asia. “Having secured two contract wins in quick succession, this reaffirms Swiber's leading position as a reliable and trusted service provider of choice amongst the world's major oil players,” said Francis Wong, group ceo and president of Swiber.
(Source:http://www.seatrade-asia.com)