Swiber has secured two engineering, procurement, installation and commissioning contracts worth £102m for offshore construction projects in South East Asia.

The orders include the provision of pipeline and subsea installation works for two major oil companies.

Swiber group chief executive officer and president Francis Wong said the company is encouraged by the two contracts, notwithstanding the current market situation.

"South East Asia offers exciting opportunities for more contract wins given that Q4 is traditionally a strong quarter for awards of contracts in this geographic area," he said.

Both projects will begin immediately, with one to be completed by the end of this year and the other by 2013.