Offshore oil and gas industry service provider Swiber Holding has
secured a charter contract in India worth about US$14 million. The contract from BG
Exploration and Production India Ltd is for the provision of an anchor handling tug and
supply (AHTS) vessel to be used in Indian waters for marine oil and gas works. The threeyear
contract starts in April next year (2007) and includes options for two six-month
extensions. The deal is expected to have a positive impact on the company's net tangible
assets and earnings per share for the financial year ending Dec 30, 2007, said Swiber. BG
Exploration is a subsidiary of BG India, which holds a 30 per cent interest in the Tapti gas
field together with the Panna/Mukta oil and gas fields off the shore of Mumbai. The latest
contract comes on the heels of an earlier letter of intent Swiber signed with BG Exploration
for the provision of transport vessels, a deal which is expected to contribute about US$5.75
million to Swiber's turnover in FY2007.
