Swiber Wins Big Latin America EPIC Contract

Construction & support services provider to the offshore oil and gas industry, Singapore's Swiber Holidngs, says it has won an Engineering, Procurement, Installation and Construction (“EPIC”) contract in Latin America for subsea development work including pipeline tie-in work, with an aggregate value of US$80-million. The project will commence immediately and is expected to complete in 2015.

Commented Mr. Francis Wong, Group Chief Executive Officer and President of Swiber, “We are pleased with this project win as it is testament to Swiber’s ability to successfully develop and grow in regions where we are expanding into as part of our strategic long term goals. Just last year, we had successfully completed the construction of a 77 kilometres-long submarine duct for Pemex, the Mexican state-owned oil company."

"We believe that with the heightening of our marketing and business development efforts in Latin America, Swiber is steadily establishing foothold in the growing energy sector in Mexico where rising awareness of Swiber’s wide range of integrated offshore construction services, enhanced with in-house marine support and engineering capabilities has created a strong brand presence.”

Swiber adds that there are abounding opportunities in Latin America, where a recent push to dismantle abandoned oil and gas infrastructure in the Gulf of Mexico has created a US$2.5 billion market for companies.

www.swiber.com