Swiber's order book hits record high of more than US$1b

Swiber Holdings, the integrated construction and support services provider to the offshore industry, says it has secured a slew of contract wins amounting to US$69 million ($89.3 million), bringing its order book beyond US$1 billion, the highest by far in its corporate history.

The contracts, awarded by leading offshore construction companies and oil majors, involve a whole spectrum of work from pipeline transportation and installation, subsea installation and chartering of marine vessel.

Work for these projects are slated to commence immediately. The pipeline and subsea projects are targeted to be completed within this year and the marine vessel will be chartered for the duration of three years with an option to extend for two more years.