Swiber secures EPIC contract

Offshore staff

SINGAPORESwiber Holdings has secured an engineering, procurement, installation, and construction contract worth about $100 million for a national oil company in south Asia.

The company said this latest project, for a long-term unnamed client, includes pipelines and subsea installation works. It is to start immediately and is expected to be completed in 1H 2017.

This is the second announced subsea-related contract that the construction and support specialist has announced this month.

Group CEO and President Francis Wong said Swiber will continue to mitigate market pressures by maximizing usage of its vessels and equipment; negotiating with suppliers to greater advantage; monitoring debt; reining in cash collection; and cutting costs.

02/29/2016

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