Swiber Holdings off to a great start with US$216m worth of contracts in 2012

Its Middle East joint venture has also secured a contract win amounting to over US$38 million.

Swiber Holdings Limited announced that it has secured a string of contract wins totaling approximately US$216 million at the beginning of the year, for offshore construction projects and vessel chartering services in Southeast Asia and South Asia.

Concurrently, its Middle East joint venture has secured a contract win amounting to over US$38 million for vessel chartering services in the Middle East.

With this latest slew of contract wins, Swiber’s healthy order backlog is maintained at over US$1.0 billion. Swiber’s contract wins entail offshore construction works that span a wide range of services for
engineering, procurement, construction, transportation and installation of offshore wellhead platforms and pipelines. In addition, the Group will provide vessel chartering services which include the deployment of a campaign work barge in the Asia Pacific region. Contracts are expected to be completed by 2013.

Separately, the vessel charter contract awarded to Swiber’s Middle East JV from a major oil producer in the Middle East includes chartering of support vessels for a committed period of 3 years and an additional option period of 2 years. These offshore projects will commence immediately and are expected to continue until 2017.