Swiber clinches five contract wins worth $300m

Swiber Holdings, which provides integrated construction and support services to the offshore oil and gas industry, has kicked off the new year by securing five contracts worth about US$235 million (S$300 million) in all.

The Singapore-listed company said on Monday that three of the contracts, totalling about US$145 million, are for work to be done in Latin America and South-east Asia.

The other two contracts were awarded to Swiber's associate company and joint venture company for services to be performed in South-east Asia.

Work on the contracts will start immediately and are expected to be completed in the next two years, Swiber said.

"We are pleased to begin 2014 on a strong note," said Swiber's group chief executive officer and president Francis Wong.

""In terms of industry prospects, the potential in Latin America and South-east Asia is bright, and Swiber, with our long-standing and established networks in these regions, is in an ideal position to ride on this wave," he added.

"As we step up our efforts in bidding for the growing exploration and production work at these locations, we are optimistic of a sustained smooth flow of success."