Swiber Holdings to bid for US$300m PEMEX deal

Saipem, Heerema also out to compete.

Citing Upstream, OCBC Investment Research said PEMEX is preparing to begin a bid process that aims to offer a contract to deliver and install four Ayatsil platforms. 

Here's more:

The group is in the prequalification phase for the contract, and heavy-lift contractors such as Saipem, Heerema and Swiber Holdings are said to be interested. The entire package is estimated to be worth ~US$300m.

Swiber recently saw its share price run up about 23% from 14 May (pre-1Q13 results announcement) to its close on Friday, after we upgraded our rating from Hold to Buy. However we still see an upside potential of about 12% over a oneyear time frame.  

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