Swiber in confident mood despite oil price issue

摘要

Speaking to OSJ just days before unveiling another US$310 million contract offshore India, the chief executive of Singapore-listed Swiber Offshore expressed confidence that activity off the resurgent Southeast Asian country will continue to ramp up despite an environment of volatile oil prices. Swiber's chief executive, Nitish Gupta, acknowledged that India's Oil & Natural Gas Corporation (ONGC) has held back on contract awards as "sentiment backs up" as oil prices tumbled to around the US$50 mark. Even so, Mr Gupta remains optimistic that "projects will [continue] to open up" in a major oil and gas importing country such as India.