Swiber Holdings

Singapore-based offshore oil and gas industry service provider Swiber Holdings has secured contracts totalling $216m for offshore construction projects, as well as vessel chartering services in South East Asia and South Asia.

The company’s joint venture (JV) also won a contract worth $38m from a major oil producer for vessel chartering services in the Middle East, where the JV is based.

Swiber will provide a range of services for engineering, procurement, construction and transportation services, as well as installing offshore wellhead platforms and pipelines. It will also provide chartering of support vessels for a period of three years and an additional option period of two years.

These offshore projects will start immediately and are expected to continue until 2017 if all options are exercised.

In addition, the group will provide vessel chartering services, including the deployment of a campaign work barge in the Asia Pacific region. The contracts are expected to be complete by 2013.

Swiber CEO Francis Wong said the JV contract success was the company’s first entry to the Middle East and a major milestone. "In comparison to the first quarter of 2011, this year’s contract wins have been secured earlier in the year and overall, in larger contract sizes, signaling the phenomenal growth of the offshore oil and gas sector," he said.

 

Image: Swiber Holdings will provide chartering of support vessels under a three year period. Photo: courtesy of Swiber.