Swiber Secures New Projects Worth US$215 Million in Qatar and Southeast Asia
Tuesday 7 June 2016
Swiber Holdings Limited (“Swiber” and together with its subsidiaries, the “Group”), a leading global offshore construction services provider to the oil and gas industry, has secured three new contracts for projects with a total value of US$215 million in the Middle East and Southeast Asia regions.
Said Mr Darren Yeo, Deputy Group CEO of Swiber, “Despite the ongoing oil market volatility and challenging conditions in the offshore oil and gas industry, Swiber continues to demonstrate our ability to successfully secure new projects. In fact, one of these new projects represents an important breakthrough for Swiber into the lucrative Middle East market.”
Swiber was awarded an EPCI (“Engineering, Procurement, Construction and Installation”) contract from a European oil major to perform pipeline replacement work in Qatar, marking the Group’s first offshore construction project in the Middle East. The Group has commenced the engineering phase of this project which is scheduled for completion in the third quarter of 2017.
“This job is for a repeat customer with whom we have worked closely on numerous projects across the globe. It is a testament of our proven experience and execution capabilities that the customer is once again entrusting Swiber with this project in Qatar,” said Mr Yeo.
Swiber recently also won new contracts for a further two projects in Myanmar and Vietnam, which solidifies its market position in Southeast Asia.