EPIC contract for Swiber in India

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

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. This fast track project is scheduled for completion by second quarter of 2016.

With the latest contract, the Group’s order book stands at close to US$2 billion including US$435.6 million new contracts announced last month, a US$710 million offshore field development project in West Africa last December and a US$310 million contract from the same client in February.

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.”

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