Swiber secures $133-million EPIC contract in India

SINGAPORE -- Swiber Holdings has secured a $133-million contract, the third major award in India in the last three months, for engineering, procurement, installation and construction (EPIC) services in India.

The project, by the same national oil company which awarded Swiber two major contracts in February and March, involves surveys (pre-engineering, pre-construction/pre-installation and post-installation), design, engineering, procurement, fabrication, installation, and commissioning of six pipelines totaling 60 km, connecting it to existing pipelines, modification and repair of platforms and jackets. This fast-track project is scheduled for completion by the second quarter of 2016.

Francis Wong, Swiber's CEO and president, said, "We are optimistic about prospects in our target markets despite the fall in oil price and the cutbacks in capital expenditure by some of the oil majors. We believe that our strategy of establishing long-term relationships with clients and suppliers has put us in good stead for a time like this.”