CUEL Limited has awarded Swiber a long-term agreement valued at approximately US$50 million per annum to provide offshore installation services in the Gulf of Thailand, as part of the major long term strategy to provide the full stream of EPCIC services to CUEL clients in the Gulf of Thailand and in the Asia Pacific Region.

This long-term agreement strategically combines the competitive advantages of CUEL and Swiber to offer existing and future clients a consolidated source of expertise to provide full turnkey solutions that will deliver them noticeable benefits. The collaboration between the two organizations is expected to increase revenue and earnings growth by utilizing increased scope of works and tangible synergies.

The scope of activities for the 5-year project includes the installation engineering, transportation and installation of jackets, piles, topsides and pipelines for offshore facilities in Thailand; as well as the supply all personnel, equipment and services necessary for the execution of CUEL projects work which will also enhance a broader base of opportunities in the offshore EPCIC business sector.

Tags: CUEL Limited, Swift Energy