Offshore staff

HOUSTON -- Swiber Holdings Ltd. said it has won a three-year $14-million contract to provide an Anchor Handling Tug and Supply (AHTS) vessel to be used for marine oil and gas works offshore India from India's BG Explroation and Production Ltd.

The contract begins in April 2007 and includes two extension options of six months each on the same rates, terms, and conditions.

Swiber has recently signed a separate Letter of Intent with BG Exploration to provide a spread of vessels to transport jackets and decks within Indian waters. The contract is expected to contribute $5.75 million to the group's turnover in fiscal year 2007.

12/04/2006