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Swiber bags $333m contract for EPIC services in India

Swiber bags $333m contract for EPIC services in India
Swiber has clinched a new contract worth $333m for Engineering, Procurement, Installation and Construction (EPIC) services in India.

The contract in India is the second awarded to Swiber by the same national oil firm in just over a month.

The project will commence immediately and involves transportation and installation of submarine pipelines and engineering works and modification of existing facilities. Phase 1 is expected to be completed by the second quarter of 2016 and phase 2 during the second quarter of 2017.

“Going into the tender, we exercised stringent cost analysis and took into consideration the in-house and shared resources within the group. We were confident thaht our strategy of investing in a suite of marine assets and our ability to integrate our offshore EPIC and offshore marine services, would give us competitive advantage over bidders who did not own their own assets,” said Francis Wong, group ceo of Swiber.

Wong explained that Swiber’s asset-based strategy meant that it was able to optimise vessel usage and lower mobilisation costs.

In recent months, Swiber also bagged a few other smaller contracts for mooring, jack-up installation and offshore pipeline and subsea work, in the Asia Pacific region.

To date, Swiber boasts an orderbook of $1.8bn, including a $710m offshore field development project in West Africa last December and the $310m contract from the same Indian national oil firm last month.

Swiber owns a young and modern fleet of 13 construction vessels supported by its in-house offshore support vessels.

TAGS: Offshore