Swiber wins US$21.3 million contract for W. Madura, Poleng fields

Singaporean firm Swiber Holdings Limited said Tuesday its wholly-owned subsidiary, Swiber Engineering Limited, had entered into a Letter of Agreement (LOA) worth US$21.3 million for the installation of platforms and pipelines at the West Madura PSC and Poleng TAC, offshore East Java .

 

“Winning the new project is a great testimony to the hard work and dedication of Swiber’s team. It was only in 2002 that we began our focus on the development of our offshore EPCIC (Engineering, Procurement, Construction, Installation and Commission) business,” Swiber’s Chief Executive Officer, Raymond Goh, said.

 

Under the terms of the LOA, the date of completion of the pipelines is on Oct. 31, 2007, while the date of completion of the platforms is targeted for Nov. 30, 2007.

 

West Madura and Poleng are operated by Korea Development Co Ltd.

 

Swiber is an integrated offshore EPCIC contractor with in-house marine support capabilities. The company operates a fleet of marine support vessels which are chartered to customers throughout various stages in their offshore oil and gas exploration, development and production and postproduction projects. (Robert)