Swiber bags $127M EPCIC contract

The Group announced that its wholly owned subsidiary, Swiber Offshore Construction Pte Ltd, has successfully been awarded the LOI for EPCIC (Engineering, Procurement, Construction, Installation and Commission) work in Mumbai, India, from one of its long standing clients, BG Exploration and Production India Limited. The LOI is the Group’s maiden EPCIC project win in the thriving

Swiber is showing sustained momemtum at winning large, major contracts. The latest project is the Group’s second single largest EPCIC contract to]date. The largest EPCIC contract, at US$146.6 million, was awarded to Swiber by Brunei Shell Petroleum Company Sdn Bhd (Brunei Shell) in February 2006 for EPCIC works in Brunei. And in December 2007, Swiber was awarded a contract extension from Brunei Shell, which brought the total value of contracts awarded from Shell Brunei to US$200 million.

Under the terms of the latest LOI, Swiber’s project scope includes the design, engineering, procurement, fabrication, surveys, load out, tie]down/sea fastening/sail out, transportation, installation, hook up and pre commissioning of various facilities situated in the Arabian Sea, off the west coast of India, near Mumbai. The project work will commence in the first quarter of 2008, with completion targeted for the second quarter of 2009.