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Swiber secures $719m contract for offshore field development project in West Africa

Singapore-based Swiber Holdings, an international provider of integrated offshore construction and support services to the oil and gas industry, has secured a contract from a US-based oil and gas company to provide engineering, procurement, construction, installation and commissioning services for an offshore field development project in West Africa.

This is the company's first foray into the offshore oil and gas market in West Africa.

The contract is valued at $710m and includes the provision of full EPCIC services for an offshore processing facility, as well as associated subsea infrastructure developments.

During the duration of the contract, Swiber will mobilise a full and dedicated project management team.

Swiber will start work on the project in the first quarter of 2015 and expects to complete it by mid-2017.

Swiber president and group CEO Francis Wong said: "The award of this project in West Africa to Swiber represents a major leap forward for the goup.

"This not only marks the group's success in penetrating a new growth market, it also shows our relentless effort to raise our capabilities to move into higher-value EPCIC services.

"We are constantly looking for ways to raise our performance in delivering best-in-class solutions that will exceed our customers' expectations.

"With this project, Swiber will broaden its experience, knowledge base and skill sets to enhance our competitive standing in the offshore oil and gas industry, and pursue new areas of business opportunities in the growing West African market.

"For the year-to-date, Swiber has clinched contracts totalling $1.03bn.

"This is a testament to Swiber's reputation and commitment in delivering value to our clients in the offshore oil and gas industry, with our expertise, quality and professionalism."

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