Swiber wins EPCIC contract in S.Asia

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Swiber wins EPCIC contract in S.Asia

US$310 million contract for EPCIC services from a national company in South Asia

Swiber Holdings Limited (“Swiber” or together with its subsidiaries, “the Group”), a leading global provider of integrated offshore construction and support services to the oil and gas industry, has secured its second largest contract win in the Group’s corporate history – an Engineering, Procurement, Construction, Installation and Commissioning (“EPCIC”) contract worth approximately US$310 million from a national oil company in South Asia.

The project involves a full suite of EPCIC services for 8 new platforms and associated pipelines required for the development of a new offshore gas field located in South Asia. The engineering work will commence immediately with overall project completion targeted in March 2017. For this project, Swiber will be utilising its in-house state-of-the art construction and support vessels and its highly skilled and experienced Project Management Team.

With this new contract, Swiber’s order book will rise to approximately US$1.6 billion- a new record high for the Group. Said Mr. Francis Wong, Group Chief Executive Officer and President of Swiber, “This new contract is awarded by the national oil company for which we had previously completed a floatover platform installation project. Over the years, Swiber has performed offshore projects with a total value of approximately US$1.66 billion including consortium for this customer. This is a testament to the customer’s trust in Swiber’s capabilities. The new project will provide us with an opportunity to deepen our relationship.

With our experience and expertise in EPCIC services, we are confident of executing another successful project for the customer.” Despite the prevailing headwinds caused by the decline in oil prices, Swiber has continued to successfully secure new projects. In December 2014, the Group was awarded its largest contract win – a US$710 million EPCIC project in West Africa.

“Swiber is building a strong momentum in our project wins as this new contract follows on the heels of the West Africa award. As an established provider of EPCIC services for shallow water oil and gas field development, we believe that Swiber occupies a space in the offshore service value chain that will be less susceptible to spending cuts by the oil & gas companies. We continue to see opportunities in our field of expertise and are working on new project tenders in our target markets,” said Mr. Wong.

For more information, please visit: http://www.swiber.com/

Source: www.yourprojectnews.com

Link: http://tinyurl.com/lm873j6

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.