Swiber, the Singapore-based offshore contractor announced today the winning of a USD $80 million Engineering, Procurement, Installation and Construction (EPIC) contract offshore in Latin America for subsea development work including pipeline tie-in.
The client or further specifics about the project were not disclosed. The project will commence immediately and is expected to complete in 2015.
Swiber highlighted growing opportunities offshore Latin America, in particular the recent push to dismantle abandoned oil and gas infrastructure in the Gulf of Mexico which has created a new US$2.5 billion market for offshore contractors.
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The US said Russia and Ukraine have agreed to a ceasefire in the Black Sea and to work out mechanisms for implementing their ban on strikes against energy infrastructure.
CK Hutchison Holdings Ltd. warned of a deteriorating global business environment due to geopolitical and trade tensions, as the Hong Kong conglomerate reported weaker-than-expected profit while a ports sale plan faces uncertainty after infuriating Beijing.
The U.S. hit targets across Yemen in airstrikes overnight, including Saada province, which Yemeni sources say is a long-time hideout for Iran-aligned Houthi leaders, and the Red Sea port city of Hodeidah.
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