Swiber Holdings Ltd. announced it has won an US$80 million engineering, procurement, installation and construction contract in Latin America. The client is undisclosed, but the contract covers subsea development work including pipeline tie-ins. The project will commence immediately and is expected to complete in 2015.
Francis Wong, Group Chief Executive Officer and President of Swiber, said of the contract win: "We believe that with the heightening of our marketing and business development efforts in Latin America, Swiber is steadily establishing foothold in the growing energy sector in Mexico where rising awareness of Swiber’s wide range of integrated offshore construction services, enhanced with in-house marine support and engineering capabilities has created a strong brand presence."
He continued: "There are abounding opportunities in Latin America, where a recent push to dismantle abandoned oil and gas infrastructure in the Gulf of Mexico has created a US$2.5 billion market for companies."
Wong noted that Swiber recently completed the construction of a 77km-long submarine duct for Mexican state-owned oil company Pemex last year. In February, Swiber announced contract wins valued at approximately $235 million. In aggregate, the company said its contract wins year-to-date totals $315 million.