Offshore construction service provider Swiber has landed an $80 million engineering, procurement, installation and construction contract in Latin America.
Swiber did not reveal the client or project in Monday’s announcement, saying only that the contract covered subsea development work including pipeline tie-in work.
Work on the project will start immediately and is expected to be completed in 2015 and takes the aggregate value of contracts awarded to Swiber so far in 2014 to $315 million.
The Singaporean company is looking to increase its presence in Latin America, highlighting a recent push to dismantle abandoned oil and gas infrastructure in the Gulf of Mexico which it says has created a $2.5 billion market for companies such as itself.
“Swiber is confident of its technical abilities, asset-strength, local country offices and works closely with contacts who have strong local expertise in their regions,” Swiber chief executive Francis Wong said.
“With these competitive strengths, Swiber will continue to strategically bid strongly for projects in Latin America while staying actively focused and committed in our core Asia region.”