Swiber, Sembcorp Marine Indonesia Units Secure US$175 Million Offshore Contract
06/03/2012| 07:45pm US/Eastern
SINGAPORE--An Indonesian joint venture of Swiber Holdings Ltd. (AK3.SG) and a unit of Sembcorp Marine Ltd. (S51.SG) have secured a contract valued at US$175 million for an offshore project in the Southeast Asian nation, the two companies said Monday.
Swiber's joint venture company PT Rajawali Swiber Cakrawala and Sembcorp Marine's unit PT SMOE Indonesia have secured the contract for engineering and construction of two wellhead platforms and sub-sea pipelines from Premier Oil Natuna Sea B.V., Sembcorp Marine said in a statement to Singapore Exchange, where it's listed.
The contract also involves with modification works on an existing facility for the Naga and Pelikan Project, offshore Indonesia, it said, adding PT SMOE Indonesia's share of the contract is worth about US$63 million.
-By Gaurav Raghuvanshi; Dow Jones Newswires; +65 64154 154; firstname.lastname@example.org