Swiber Holdings bags $127 mln dollars LoI from BG Exploration

Singapore, Mar 8 (UNI) Singapore-listed Swiber Holdings Limited has bagged 127 million dollars Letter of Intent (LoI) for engineering, procurement, construction, installation and commission work in oil and gas field off Mumbai from BG Exploration and Production India Limited.

Swiber's project scope includes the design, engineering, procurement, fabrication, surveys, load out, tie-down/sea fastening/sail out, transportation, instalation, hook up and pre-commissioning of various facilities situated in the Arabian Sea, off the west coast near Mumbai.

The project work will commence in the first quarter of 2008, with completion targeted for the second quarter of 2009, said Swiber in a filing to the Singapore Exchange.

UNI XC PDT DS1336