Swiber Holdings, the integrated construction and support services provider to the offshore oil and gas industry, says it has won from major oil companies in South East Asia to provide offshore support vessels.

One contract will last for five months and the other will last for two years with options to extend annually for up to five years. The value of the contracts is expected to range between US$31.4 million ($43.7 million) and US$81.9 million if all the three annual options are exercised.

As at December 2009, Swiber operates a fleet of 44 vessels comprising of 34 offshore vessels and 10 construction vessels, with 80% of its fleet less than 4 years’ old.

The group has recently expanded the diving division of its offshore support services.