Petroleum Africa
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Monday, July 11, 2016
The downturn in the industry has affected projects moving forward all over the globe. In West Africa it was reported by Swiber Holdings Ltd. that work on its $710 million EPCIC contract for an offshore project being developed by a Houston-based oil and gas company has been delayed.
While neither the project nor the company were named, Swiber said work has not been able to progress in line with its original schedule, with completion targeted for mid-2017.
“Based on recent discussions with the client, the client is proceeding with the project but expects the completion of the project to be delayed. The group has not recognized any revenue related to the project,” the company said in a press release.
Apart from EPCIC, the company undertook the pre-FEED and FEED studies of offshore processing facility and associated subsea infrastructure developments for the project.
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