Swiber Wins Subsea EPIC Contract Off Latin America

swiberSwiber, 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.