BG Exploration and Production India Ltd. has issued Singapore-based Swiber Holdings Ltd. a $127m letter of intent for engineering, procurement, construction, installation and commissioning (EPCIC) work at various facilities in the Arabian Sea, offshore western India.

The contract marks Swiber's entry into the Indian offshore engineering market and work is expected to be complete in the second quarter of 2009

This contract is the second largest EPCIC contract to date for Swiber, following the largest contract of $146m awarded to Swiber by Brunei Shell Petroleum Company in February 2006 for EPCIC work in Brunei.

BG previously awarded to Swiber its first offshore marine support charter contract in India worth $5.75m and through its joint venture, Swiwar Offshore Pte Ltd, the company has also won a succession of charter contracts with BG India in 2006 and 2007, worth $42m.