Subsea Contracts Galore for Ezra

Press Release
Sunday, January 13, 2013

Ezra Holdings announces multiple contracts, worth + US$160-million, for its subsea, offshore & energy services divisions.

Ezra divisions, EMAS AMC, EMAS Marine and EMAS Energy have been awarded multiple contracts for projects in the North Sea and Asia Pacific. The average tenor for all contracts is approximately 2.6 years including options.

EMAS AMC has been awarded several new contracts and options worth up to US$85 million in aggregate for several projects in the North Sea and Asia. This includes a project with an oil major in the Asia Pacific region worth up to US$45-million.

Other awards include a new subsea and moorings installation contract relating to a development project for an independent oil company in Malaysia as well as additional work in the North Sea from Statoil from the exercise of options and variation orders relating to existing subsea contracts announced in March 2012 and January 2012 respectively.

EMAS Marine has been awarded five contracts worth a total of approximately US$75-million (including options) from international and independent oil companies. These involve some of the division’s advanced 12,000 bhp Anchor Handling Tug and Supply vessels as well as a 3,250 dwt Platform Supply Vessel.

EMAS Energy has won a multimillion-dollar contract to decommission a pipeline in the Gulf of Thailand for a major oil and gas operator. This award adds to EMAS Energy’s ongoing Plug and Abandonment/Decommissioning activities in the Gulf of Thailand, and entrenches its position as a significant offshore decommissioning services company in the region.

Mr Lionel Lee, Ezra’s Managing Director, said: “These project awards demonstrate our sustained commitment to the North Sea and Asia Pacific markets. They further serve as a vote of confidence on our execution ability, as well as strengthen our track record across our business lines."


 

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