Swiber nets its 2nd largest contract ever
- Business & Finance
Singapore’s Swiber has won its second largest contract ever. The oilfield services provider has secured Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) contract worth approximately $310 million from a national oil company in South Asia.
The project involves a full suite of EPCIC services for 8 new platforms and associated pipelines required for the development of a new offshore gas field located in South Asia.
The engineering work will start immediately with overall project completion targeted in March 2017. For this project, Swiber will be utilising its in-house construction and support vessels.
As for Swiber’s largest ever contract, it has been awarded to the company just a couple of months ago. Namely, in December 2014, Swiber was awarded a $710 million EPCIC project in West Africa.
Francis Wong, Group Chief Executive Officer and President of Swiber, “This new contract is awarded by the national oil company for which we had previously completed a floatover platform installation project. Over the years, Swiber has performed offshore projects with a total value of approximately $1.66 billion for this customer.”