Offshore support services provider Swiber Holdings announced on Friday that its orderbook has swelled to close to $1bn after securing its single largest contract win worth some $155m, Seatrade Asia Online reports. Singapore-listed Swiber won the $155m EPIC pipeline project from a major oil company in South Asia. The project is scheduled to commence in the fourth-quarter of 2012 and targeted to complete in the second-quarter of 2013.
“We are delighted to have hit a new high watermark in our orderbook since listing,” said Francis Wong, group ceo and president of Swiber.
“Looking ahead, industry-wise, we expect that structural growth in demand for energy in Asia and Middle East will catalytically lead to increased capex expenditure in the next two years, providing a boost to offshore construction activities,” he said.
This year alone, Swiber clinched contracts amounting to $587m. The company has a fleet of 12 construction vessels and 39 support vessels.
“We are delighted to have hit a new high watermark in our orderbook since listing,” said Francis Wong, group ceo and president of Swiber.
“Looking ahead, industry-wise, we expect that structural growth in demand for energy in Asia and Middle East will catalytically lead to increased capex expenditure in the next two years, providing a boost to offshore construction activities,” he said.
This year alone, Swiber clinched contracts amounting to $587m. The company has a fleet of 12 construction vessels and 39 support vessels.