Singapore-based Swiber, an integrated offshore construction and services provider, has signed offshore contracts worth $143m in south-east Asia and Latin America.
The deals include a $100m contract for offshore construction work in south-east Asia and a $43m contract to charter a construction vessel, which will be deployed to Latin America this year.
Offshore construction work in south-east Asia is scheduled to start in the first quarter of 2013 with completion expected by the third quarter of 2013.
The Latin America contract will begin this year with an option to extend for the next two years.
Swiber president and group CEO, Francis Wong, said the new contracts provide a recognition of the company’s leading edge solutions for the offshore segment in the industry.
"Swiber’s experienced task force, young and modern fleet, and proven capabilities in the successful execution of complex offshore projects in the Asia Pacific and Latin America have given us a competitive edge over our peers," Wong said.
The company believes south-east Asia is an attractive region for offshore oil and gas development, therefore it has planned a total capital expenditure of $87.1bn for 2011-2015 in the region, which is 45% higher than the preceding five-year period.
According to industry analysts Infield Capex investment in the Latin American region is also set to increase fromUS$48 billion in 2010 to US$66 billion in 2014.
Infield believes that with the Latin America’s main national oil companies:Petrobras, Pemex and PDVSA driving growth, prospects for the offshore oil and gas sector in Latin America are promising.
"Swiber has an in-depth understanding of south-east Asia and a growing presence in Latin America, a market which we have entered this year," Wong added.
In March 2012, the company won an offshore construction project in Gulf of Mexico.
The company also said that geographical diversification forms the cornerstone for the company’s activities in the offshore oil and gas industry.
Image: Swiber Else-Marie, an anchor handling, tug and supply vessel (AHTS), in the port of Ostend, Belgium. Photo courtesy of Marc Ryckaert.