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Swiber bags $133m EPIC contract in India

Swiber bags $133m EPIC contract in India
Swiber Holdings has bagged a $133m contract for engineering, procurement, installation and construction (EPIC) services in India.

The latest deal is the company’s third major contract in India in the last three months, awarded by the same national oil company, Swiber announced on Wednesday.

The new job is scheduled to be completed by the second quarter of 2016.

“We are optimistic about prospects in our target markets depiste the fall in oil price and the cutbacks in capital expenditure by some of the oil majors,” said Francis Wong, group ceo and president.

The group’s orderbook currently stands at close to $2bn including the $435.6m new contracts announced last month, the $710m offshore field development project in West Africa last December and the $310m contract from the same client in India in February.

Swiber owns a fleet of 13 construction vessels supported by its inhouse offshore support vessels.

TAGS: Offshore