Singapore: Swiber Secures USD 36 Million Worth Charter Contracts

Swiber Holdings Limited, a world class integrated construction and support services provider to the offshore industry, announced that it has secured charter contract wins totaling approximately US$36 million for vessel chartering services, with the exercise of all options, in the Gulf of Mexico and Southeast Asia.

With this latest string of contract wins, Swiber’s healthy order backlog rises to over US$1.1 billion. Swiber’s contract wins entail vessel charters for general maintenance, supply services as well as transportation and installation of topsides. Vessel charter services will commence immediately and will continue into 2013.

Mr. Francis Wong, Group Chief Executive Officer and President of Swiber commented, “This contract win, which follows closely after a recent contract win breakthrough in the Middle East market, reflects a fast-­‐growing international recognition of Swiber’s excellence in delivery, even in complex environments. With Swiber’s strong service capacity, established networks and a young and modern fleet in place, Swiber is poised to deliver quality infrastructure and support solutions to the international oil and gas sector.”

The United States Energy Department has recently projected that gulf oil production would expand from 1.3 million barrels a day in 2011, to 2.0 million barrels a day by 2020 driven by strong demand from both India and China.

Subsea World News Staff , March 06, 2012;  Image: Swiber