Swiber wins three contracts for offshore projects

Swiber Holdings Ltd., Singapore, has signed a $31 million letter of intent with Kencana Petroleum for the installation of a wellhead platform in Petronas-operated Puteri gas field off Sarawak, Malaysia.

Eric Watkins
Senior Correspondent

LOS ANGELES, June 27 -- Swiber Holdings Ltd., Singapore, has signed a $31 million letter of intent with Kencana Petroleum for the installation of a wellhead platform in Petronas-operated Puteri gas field off Sarawak, Malaysia.

Swiber will use its newly delivered barges, the Da Li Hao crane barge and the Swiber Conquest pipelay barge, to install the platform's topside, jacket, and pipeline.

Swiber said the project is expected to commence in August and to complete in October.

The contract is the latest of several for Swiber, which provides engineering and other support services to the oil and gas industry.

In May, Swiber's subsidiary Swiber Engineering Ltd., secured a $21.3 million contract from an Indonesian group to install platforms and pipelines at West Madura and Poleng fields off Indonesia.

Completion of the pipelines is set for Oct 31, while installation of the platforms is slated to be complete on Nov 30, Swiber said.

In February, Swiber won a $146.6 million contract from Brunei Shell Petroleum Co. Sdn. Bhd. to provide offshore engineering, procurement, construction, installation, and commission services for three major projects in Brunei.

Under that agreement, Swiber also will provide project management, as well as transportation and installation of offshore facilities such as platforms, pipelines, and subsea cables, with installations scheduled for 2007-08.

Contact Eric Watkins at hippalus@yahoo.com.

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