Swiber clinches estimated $435m in offshore contracts

Contracts for completion by 2015.

Offshore oil and gas construction and support services provider Swiber Holdings Limited (Swiber) announced that it has clinched sizeable contracts worth approximately $435 million. Contract wins comprise of approximately $330 million under the Swiber Group and approximately $105 million under Swiber Group joint venture company. These contracts will commence immediately and are expected to be completed by 2015, the company said in a release.

Commented Mr. Francis Wong, Group Chief Executive Officer and President of Swiber, "The offshore segment remains exciting and this round of sizeable contract wins bear witness to the industry's recognition of Swiber's leading edge solutions. With our strong familiarity of this segment, established international networks and successful execution of complex offshore projects in regions such as Asia and Latin America, we have a clear competitive edge over our peers."