Swiber completes India hat-trick with EPIC deal

Swiber completes India hat-trick with EPIC deal

Singapore: Swiber Holdings has announced its third contract signed in India this year, the latest a $133m engineering, procurement, installation and construction (EPIC) deal.

The new project is schedule for completion by the second quarter of 2016, and involves surveys design, engineering, procurement, fabrication, installation, and commissioning of six pipelines totalling 60km, connecting it to existing pipelines, modification and repair of platforms and jackets.

The new contract was awarded by the same national oil company who awarded Swiber a $310m EPCIC contract in February, and a $333m EPIC contract in March.

Francis Wong, Swiber’s ceo and president commenting on the latest award, said : “To have the same client come back to us repeatedly demonstrates Swiber’s understanding of our client and the market, and our ability to bring the Group’s resources to bear to meet our client’s needs.”

Swiber’s order book now stands at around $2bn.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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1 Comment

  1. Avatar
    John Smit
    April 15, 2015 at 5:08 am

    Very Interesting bit of news. But in order to present a complete picture we must inform the readers that Indias ONGC which awarded the Jobs to Swiber operates using the Lowest Bidder system.
    It is common knowledge that Swiber’s winning bid for all three jobs were 30-35% less than the next highest bidder.

    So the question is, why does a company like Swiber, which has not generated positive cash for years, so desperate to pick up Loss making jobs? Why is Swiber on a suicide bombing mission?