Swiber has landed a $100m engineering, procurement, installation and construction (EPIC) contract with a South Asian national oil company.
Under the contract, Swiber will provide services such as installation works of pipelines and subsea. It plans to begin the work with immediate effect and expects it to close in the first half of 2017.
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Swiber group CEO and president Francis Wong said: "We are pleased to have clinched yet another project for our long-time and valued client.
"Despite challenging market conditions, we believe that our strategy of establishing long-term relationships with our clients and our track record of completing our projects in a timely, cost efficient manner, have paid off."
Wong added that the company will increase usage of its vessels and equipment, negotiate with suppliers, monitor debt and reduce costs to continue to mitigate market pressures.
Earlier this month, the company said it completed a platform and subsea pipeline installation project for a South American oil and gas company.
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By GlobalDataThe southernmost platform project was awarded to the company in September 2013 for the jacket and topside installation of a wellhead platform and its 24in and 4in pipelines of 70km each.
Swiber owns a fleet of 13 construction vessels, and provides integrated offshore construction, marine support and engineering services to the oil and gas industry.
