Ezra Holdings Limited News

Singapore’s Emas Offshore has received a notice from Marina Aquata Shipping to terminate the bareboat charter for one of its leased platform supply vessels (PSVs). The offshore services provider held by Ezra said that Marina Aquata Shipping terminated the bareboat charter of the Lewek Avior PSV. "Ezra Holdings Limited has issued a Guarantee and Indemnity dated 26 April 2011 as guarantor in favour of the Owner in respect of EOPL’s obligations under the Avior Charter. Marina Aquata Shipping alleged, inter alia, in the Avior Notice of Termination that various termination events and breaches of material obligations and representation or warranty of the Avior Charter caused by EOPL and/or Ezra have occurred and are continuing," said a press statement.

The EMAS Offshore (EOL) board of directors warns that the Chapter 11 filing of parent company Ezra Holdings  may negatively impact EOL and its subsidiaries, which could possibly lead it to face a going concern issue. As at 30 November 2016, the Group had an aggregate amount of approximately US$170 million owing to Ezra, of which US$125 million was subject to a deferred payment over a period of three years, says a statement from the company. In addition, the Group has an aggregate of approximately US$566 million of loans owing to financial institutions. The Group also has substantial charter hire liabilities valued at approximately US$231 million as at 30 November 2016, relating to charterparty agreements entered into by the Group.

NYK has acquired a 25 percent share of EMAS Chiyoda Subsea Limited (ECS), based on an agreement signed on June 10 with Ezra Holdings Limited (Ezra) and the Chiyoda Corporation (Chiyoda). ECS is a global player in the engineering, procurement, construction, and installation (EPCI) of subsea facilities — essential components in offshore oil and gas field development. After this acquisition, ECS’s shareholding structure will shift to Ezra 40 percent, Chiyoda 35 percent, and NYK 25 percent. Based on its medium-term management plan emphasizing differentiation through the use of creative solutions, NYK has been expanding its business in offshore oil and gas exploration/development, such as seismic, drilling, production, and shuttle transportation services.

Japanese shipping giant Nippon Yusen Kabushiki Kaisha (NYK) has agreed to invest in EMAS Chiyoda, a subsea services joint venture between oilfield services firm Ezra Holdings Ltd and Chiyoda Corp. NYK has reached an agreement with Ezra Holdings Limited (Ezra) and Chiyoda Corporation (Chiyoda) to acquire a 25 percent share of EMAS Chiyoda Subsea Limited (ECS). After NYK’s participation, the shareholding structure of ECS will change to Ezra 40%, Chiyoda 35%, and NYK 25%. ECS is a global player in the engineering, procurement, construction, and installation (EPCI) of subsea facilities — essential components in offshore oil and gas field development.

Ezra Holdings Limited’s wholly owned subsidiary, London Marine Consultants (LMC), Ezra’s Floating Production, Storage and Offloading (FPSO) Turret Design outfit, has been awarded a contract by Sembcorp Marine’s subsidiary Jurong Shipyard of Singapore, to supply an external turret mooring system for the Libra field’s Extended Well Test (EWT) FPSO vessel. The Libra oil field is a large, ultra-deepwater (up to 2,500 meters) oil prospect located in the Santos Basin, about 230 kilometers off the coast of Rio de Janeiro, Brazil, north of Tupi field. The oil field estimated to contain recoverable resources ranging between eight billion to 12 billion barrels of oil and is one of the largest deepwater oil accumulations globally.

Ezra Holdings Limited, a leading contractor and provider of integrated offshore solutions to the oil and gas industry, today announced that the Group’s Subsea Services division, EMAS AMC, has won multiple new awards from various energy companies valued at over US$70 million. The scope of work includes subsea installation of umbilicals, flowlines and jumpers, as well as provision of services to support rigs. Work has commenced for several projects, with the others slated for offshore execution from Q4 2014 to Q2 2015. “I am delighted to see that our customers are leveraging our subsea expertise and placing their trust in our solutions and services.

On 26 August 2014, EOC Limited agreed to acquire 50% of the entire issued share capital of Lewek Antares Shipping Pte. Ltd. (the "Target") , a company incorporated under the laws of Singapore, from Konquest Marine Pte Ltd ("KMPL"). Completion of the Acquisition shall take place on or around 28 August 2014. Prior to the Acquisition, the Target was jointly owned by KMPL and Ezra Holdings Limited ("Ezra"), the largest shareholder of the Company, in a 50-50 proportion. Upon completion of the Acquisition and post completion of the Proposed Business Combination (as referenced in the stock exchange release by the Company on 10 July 2014, and the announcement made on 7 August 2014 in respect of the publication of the shareholder circular dated 7 August 2014)…

Ezra Holdings Limited today announced plans to consolidate its Offshore Support Services division, EMAS Marine, into its associated company, EOC Limited, which is listed on the Oslo Børs, Norway. Upon completion of the transaction, the enlarged EOC Group will be one of the largest offshore support operators in Asia Pacific by asset value, managing an offshore services platform comprising over $1 billion in offshore support assets. Its diverse and versatile fleet of 50 offshore vessels is among the youngest in the region. The fleet has a combined bollard pull of almost 4,000 tons, more than 37,000 dwt and a total of almost 350,000 BHP, making it one of the strongest and most powerful in the region, with capabilities to operate globally at ultra-deep water depths.

EMAS AMC, the subsea services division of EMAS, a global offshore contractor and provider of integrated offshore solutions to the oil and gas industry and the operating brand of Ezra Holdings Limited, has announced that it has been awarded a transport and floater installation contract for two FSUs, with an option for a third, from Statoil for their Heidrun and Mariner fields. The contract is valued at approximately $126 million (*1), including options. C.J. The work scope for all three projects consists of the pre-installation of mooring systems, followed by the transport, hook-up and installation of the FSUs in their respective fields. The projects will be managed out of EMAS AMC’s Oslo office.

Lewek Centurion (formerly Caesar) to install pipelines in support of existing Cecon projects. EMAS AMC, the subsea services division of EMAS, a global offshore contractor and provider of integrated offshore solutions to the oil and gas (O&G) industry and the operating brand of Ezra Holdings Limited, announced  that its pipelay vessel, the Lewek Centurion has been contracted by Cecon in the North Sea for some 60 kilometers of pipeline installation work, in support of Cecon’s 2013 project commitments currently in-hand. Both parties have expressed a shared commitment to explore further opportunities for cooperation in the future. The Lewek Centurion is a 146 meters long DP-2 deepwater S-lay vessel with a 405Te pipelay tension capacity and a 300Te crane.

EMAS AMC, the subsea services division of EMAS, a global offshore contractor and provider of integrated offshore solutions to the oil and gas industry and the operating brand of Ezra Holdings Limited, announced today that it has been awarded a subsea engineering, procurement and offshore construction contract from Statoil for the Smørbukk South Extension’s project. The contract is valued at approximately $75 million. Discovered in 1985, the Smørbukk South Extension holds estimated recoverable reserves of 16.5 million barrels of oil equivalent, and will be developed with a new subsea template connected to existing infrastructure in the area.

AMC Connector AS, a joint venture between Aker Solutions and Emas Offshore Limited, has agreed to sell subsea construction and cable-lay vessel Lewek Connector (previously called AMC Connector) to Ocean Yield AS. In October 2010, Aker Solutions announced that it would sell its offshore construction and installation subsidiary Aker Marine Contractors to Ezra Holdings Limited (Ezra), which operates in the offshore construction market under the EMAS AMC brand name. As part of this transaction, Ezra agreed to acquire 50 percent of the shares in Lewek Connector's vessel owning company, AMC Connector AS. The divestment of Aker Marine Contractors marked the start of a restructuring of Aker Solutions…

AMC Connector AS, a Aker Solutions & Emas Offshore joint venture, has agreed to sell subsea construction & cable-lay vessel 'Lewek Connector'. In October 2010, Aker Solutions announced that it would sell its offshore construction and installation subsidiary Aker Marine Contractors to Ezra Holdings Limited (Ezra), which operates in the offshore construction market under the EMAS AMC brand name. As part of this transaction, Ezra agreed to acquire 50 percent of the shares in Lewek Connector's vessel owning company, AMC Connector AS. The divestment of Aker Marine Contractors marked the start of a restructuring of Aker Solutions, which has since streamlined the company into becoming a fully-fledged provider of oilfield products, systems and services.

EMAS sees strong start to 2012 with further global contract wins worth US$120 million - 12 January 2012. EMAS, a global offshore contractor and provider of integrated offshore solutions to the oil and gas (O&G) industry and operating brand for Ezra Holdings Limited (Ezra or the Group, 以斯拉控股), today announces two further contract wins worth a total of up to US$120 million for the Group. The offshore support services division, EMAS Marine, has been awarded a new charter by an oil major for a vessel to be deployed in the Asia Pacific region in the 2nd quarter of 2012. The contract has a one year firm period and an additional option period of two years with an aggregate contract value of up to US$107million (including option periods).

EMAS Production is set to take delivery of one of Vietnam's largest Floating Production Storage and Offloading (FPSO) vessels from Keppel Shipyard Limited (Keppel Shipyard), on behalf of owner PV Keez Pte. Ltd (PV Keez). To be managed and operated by EMAS Production, FPSO Lewek EMAS has been chartered by Premier Oil Vietnam Offshore B.V. for the development of the Chim Sáo field off southern Vietnam for six years, with a further option to extend the charter by another six years. The FPSO charter contract is one of only seven signed worldwide in 2009, and is worth approximately US$1 billion.

Keppel Shipyard is on track to delivering FPSO Lewek Arunothai to EOC Limited (EOC) for a South East Asian client. The 725,000 bbls storage FPSO was named at a ceremony on June 21. FPSO Lewek Arunothai is the first FPSO that Keppel Shipyard has converted for EOC. The first part of the vessel’s refurbishment and life extension was carried out at Subic Shipyard in the , while the engineering, procurement and topside fabrication were in progress in . The vessel then sailed to Keppel Shipyard to complete the remaining conversion and integration of topside works.