Offshore support services provider Swiber has on Monday clinched a $25m contract from an offshore construction firm located in the Middle East.
Singapore-listed Swiber will perform subsea installation works that will commence in the third-quarter of this year and scheduled to be completed in the second-quarter of 2012.
“With our asset expansion largely completed, we now have a strong fleet of 50 vessels to meet the increasing capex spending by global oil majors,” said Francis Wong, ceo and president at Swiber.
Swiber's cumulative orderbook has grown to $777m following this latest contract. This year alone, it won $432m worth of new contracts.