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Saturday, October 22, 2016

EMAS Wins US$110-million Subsea & Offshore Contracts

October 31, 2013

Singapore's EMAS, the operating brand of Ezra Holdings (5DN.SI), announce that its Subsea Services (EMAS AMC) and Offshore Support Services (EMAS Marine) divisions have been awarded projects worth US$110 million. These projects will be executed in the Gulf of Mexico and the Asia-Pacific region.

EMAS AMC’s project wins come from a national oil company operating in the Gulf of Mexico for a SURF type offshore installation project, while the other comes from an oil major operating in Asia for pipeline repair works. Both projects are scheduled to commence before the end of 2013, and will be managed from the Group’s Houston and Singapore offices respectively.

“I am delighted with the steady progress that EMAS AMC has made this year. Not only are we continuing our winning momentum, but we have also demonstrated that we have positively rebounded, and that project execution is reaching a higher level of operational efficiency,” said Mr Lionel Lee, Group CEO and Managing Director of EMAS. We are now beginning to see various repeat clients, which mean we are gaining recognition for the good work we are doing.”

Adding to EMAS’ contract wins, EMAS Marine has been awarded three new charters with a national oil company and an oil major in South East Asia for two anchor handling, towing and supply (AHTS) vessels and a platform supply vessel (PSV). The contracts have an average tenure of around 3.5 years, including options. “The charter wins are a testament to our strong reputation that we have in the region and proof that EMAS Marine’s consolidation efforts into Asia is paying off,” said Mr Lee.

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