Swiber bags $310 million EPCIC contract in South Asia

SINGAPORE -- Swiber Holdings has secured its second-largest contract win in the group’s corporate history—an engineering, procurement, construction, installation and commissioning (EPCIC) contract worth approximately $310 million from a national oil company in South Asia.

The project involves a full suite of EPCIC services for 8 new platforms and associated pipelines required for the development of a new offshore gas field located in South Asia. The engineering work will commence immediately with overall project completion targeted in March 2017.

For this project, Swiber will be utilizing its in-house, state-of-the art construction and support vessels and its highly skilled and experienced project management team.

With this new contract, Swiber’s order book will rise to approximately $1.6 billion—a new record high for the group.

Francis Wong, Group CEO and President of Swiber, said, "This new contract is awarded by the national oil company for which we had previously completed a floatover platform installation project."

In December, the group was awarded its largest contract win—a $710 million EPCIC project in West Africa.