Swiber Holdings, the construction and support services provider to the offshore oil and gas industry, has received a letter of award from a major oil company in South East Asia to provide underwater inspection, repair and maintenance services of major offshore facilities.
The contract, worth US$75 million ($106 million) is awarded on a day-rate basis and is expected to start in 2Q 2010. It will be for a five-year period with an annual renewal option of two years.
