Swiber Wins USD133 Mln EPIC Gig in India

Swiber Holdings has secured a US$133 million contract, the third award in India in the last three months, for Engineering, Procurement, Installation and Construction (EPIC) services.

The project by the same national oil company which awarded Swiber two major contracts in February and March, involves surveys (pre-engineering, pre-construction/pre-installation and
post-installation) design, engineering, procurement, fabrication, installation, and commissioning of six pipelines totaling to 60km, connecting it to existing pipelines, modification and repair of
platforms and jackets.

Group Chief Executive Officer and President, Francis Wong, said: “To have the same client come back to us repeatedly demonstrates Swiber’s understanding of our client and the market, and our ability to bring the Group’s resources to bear to meet our client’s needs.

We are optimistic about prospects in our target markets despite the fall in oil price and the cutbacks in capital expenditure by some of the oil majors. We believe that our strategy of establishing long-term relationships with clients and suppliers has put us in good stead for a time like this.”

The project is scheduled for completion by second quarter of 2016.

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