Swiber Holdings, the provider of offshore offshore engineering and marine support services for the oil and gas industry, says that it has signed a Letter of Award with a Myanmar oil and gas company for a contract worth US$77 million ($106.5 million).

Under the deal, Swiber will install gas pipelines totalling 150km in length. The six-month project is expected to start in the 1st quarter of 2010 with the date of completion targeted for the 2nd quarter of 2010. Preparation work will begin in December.

As at September, Swiber’s operating fleet size stands at of 44 vessels comprising 34 offshore vessels and 10 construction vessels.

Going forward, Swiber says it will continue to focus on enhancing the strength and quality of its fleet that will see own and operate 52 vessels by 2011.

The group’s fleet expansion strategy puts the company in a good position in the recovery of the oil and gas market, it adds.