Swiber Offshore heads for dispute arbitration over Indian contract

Swiber Holdings, parent firm of Swiber Offshore Construction, said the dispute between the consortium and the oil and gas firm is in respect to a process platform job in India which was awarded to the consortium in 2010.

“The conduct of the arbitration proceedings will be led by Sime Darby Engineering,” Singapore-listed Swiber Holdings announced.

Kuala Lumpur-listed Sime Darby, parent firm of Sime Darby Engineering, also affirmed that “disputes and differences on the claim by the consortium against ONGC” have been referred to arbitration

Sime Darby Engineering and Swiber Offshore Construction had entered into the a consortium with regard to the execution and performance of a contract for the process platform project awarded by ONGC on 19 May 2010 for a total contract price of $618.38m.

The contract was then executed by ONGC and the consortium on 3 July 2010.ONGC in 2010.