Swiber Wins Contracts Worth $435M

Singapore-based Swiber Holdings Limited, an integrated construction and support services provider to the offshore oil and gas industry, announced that it has clinched contracts worth approximately $435 million.

These contracts comprised $330 million won by Swiber, while its joint venture company bagged $105 million. Work on the contracts will commence immediately and are scheduled for completion by 2015.

“The offshore segment remains exciting and this round of sizeable contract wins bear witness to the industry’s recognition of Swiber’s leading edge solutions. With our strong familiarity of this segment, established international networks and successful execution of complex offshore projects in regions such as Asia and Latin America, we have a clear competitive edge over our peers,” Francis Wong, Group CEO and president of Swiber said in a company release.

Swiber reported in February that its first offshore contract wins for 2013, which involve the transportation and installation of pipelines and offshore structures in Southeast Asia, were valued at $153 million.

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