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Swiber Holdings wins S$100m Latin America subsea development deal

SGX-listed offshore oil and gas support services provider said the project will be completed in 2015.

SINGAPORE: Swiber Holdings has won a contract in Latin America for subsea development work, including pipeline tie-in work, worth a total value of US$80 million (S$100.5 million).

The project will commence immediately and is expected to complete in 2015, it said on Monday (June 2).

Last year, Swiber had successfully completed the construction of a 77-kilometres-long submarine duct for Pemex, the Mexican state-owned oil company.

The Singapore Exchange-listed company has announced in February that it has won contracts valued at approximately US$235 million (S$295.1 million).

Swiber's contract wins year-to-date has risen to US$315 million (S$391.8 million) in total.

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