Swiber to lay Myanmar gas lines

Swiber Holdings has won its first pipeline installation contract offshore Myanmar.

Offshore staff

SINGAPORE-- Swiber Holdings has won its first pipeline installation contract offshore Myanmar. An unnamed oil and gas company has issued a Letter of Award valued at $77 million for laying of 150 km (93 mi) of subsea gas pipelines.

Preparation for the project should get under way next month, with the installation program due to be completed in 2Q 2010.

Swiber is expanding its vessel pool, in anticipation of increased demand for offshore construction work. The fleet currently comprises 34 offshore vessels and 10 construction vessels, and Swiber expects to own and operate a total of 52 vessels by 2011.

11/25/2009

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