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Monday, 4 June 2012

SWIBER SECURES AN AWARD WORTH APPROXIMATELY US$175 MILLION

- Contract win from Indonesia indicates region’s booming offshore oil and gas sector
- Successful bid made jointly with consortium partner, PT SMOE Indonesia

Singapore – June 4, 2012 – Swiber Holdings Limited (“Swiber” or together with its subsidiaries, the “Group”), a world class integrated construction and support services provider to the offshore industry, through its Indonesian joint venture company, PT Rajawali Swiber Cakrawala, has been awarded a contract amounting to approximately US$175 million by an oil major for offshore engineering, procurement, construction and installation (“EPCI”) works in Indonesia, following a successful bid made jointly with consortium partner, PT SMOE Indonesia.

This latest contract win entails offshore EPCI works for platforms, pipelines, and existing facilities in Indonesia. The execution of this project will commence immediately this year and is expected to be completed in 2014.

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