BG awards offshore India engineering work

BG Exploration and Production India Ltd. has issued Singapore-based Swiber Holdings Ltd. a US$127 million letter of intent for engineering, procurement, construction, installation and commissioning work at various facilities in the Arabian Sea offshore western India.

The contract marks Swiber's entry into the Indian offshore engineering market. Work is expected to be complete in the second quarter of 2009. This contract is the second largest EPCIC contract to date for Swiber. The largest contract at US$146.6 million was awarded to Swiber by Brunei Shell Petroleum Company in February 2006 for EPCIC work in Brunei. BG previously awarded to Swiber its first offshore marine support charter contract in India worth US$5.75 million. Swiber, through its joint venture, Swiwar Offshore Pte Ltd., also has won a succession of charter contracts with BG India in 2006 and 2007 worth US$42 million.

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