Swiber ONGC

Hi I am interested in having the detail of the contract which has been awarded by Oil and Natural Gas Corporation Ltd. (ONGC) to Swiber Holdings Ltd?

[sumit]

Singapore-based seaward vitality development contractual worker Swiber Holdings Ltd reported today their second biggest contract ever from India's Oil and Natural Gas Corporation Ltd. (ONGC).

The $310 million contract includes the Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) of 8 new stages and related pipelines.

In spite of the fact that not particularly specified, it is likely this agreement is for the Damen Development Project in the Arabian Sea.

In a phone call toward the end of December, ONGC remarked on the Damen Development taking note of it will, "drive our gas creation up essentially by around 10 to 11 million cubic meters for every day in the coming two-three years."

The advancement incorporates seven well head stages, one riser stage with related pipelines and the penetrating of 28 wells, as indicated by ONGC. The advancement is booked to go ahead line pre-storm 2019.

With this new get, Swiber's request book has ascended to a record high of roughly US$1.6 billion.