EMAS AMC Secures Floater Installation Contract from Statoil

EMAS AMC, the Subsea Services division of Ezra Holdings Limited (“Ezra”, the “Group”), a leading global offshore contractor and provider of integrated offshore solutions to the oil and gas (O&G) industry, 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 US$126 million, including options.

Mr C.J. D’Cort, CEO of EMAS AMC, said: “We have had multiple contract wins since the beginning of 2013 for EMAS AMC in the North Sea. We are greatly encouraged by the momentum we have achieved, and are gratified by the show of confidence in us by oil operators there.

“These awards will further help to grow our track record for operating in one of the most challenging environments in the world. These wins, coupled with increased activity in the Gulf of Mexico and Africa, are a clear recognition of our ability to execute a variety of subsea projects across our key global business regions.”

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.

The Heidrun field located off Norway’s west coast in a water depth of around 350m, came on stream in 1995 and as of the end of 2012, it was estimated to have reserves of some 40.1 million cubic metres of oil, 31.3 billion cubic metres of gas and 1.7 million tonnes of natural gas liquids. Offshore operations by EMAS AMC are expected to begin in mid-2014.

The Mariner field, one of the largest developments in the North Sea, is located off the UK Continental Shelf (UKCS) in a water depth of 110m, and is expected to produce some 55,000 barrels of oil per day over the plateau period from 2017 to 2020. Offshore operations by EMAS AMC are expected to begin in mid-2015.

Mr Svein Haug, Regional Head of EMAS AMC (Europe and Africa), said: “We are extremely delighted to once again be working with Statoil for these developments in the North Sea. We look forward to executing and delivering these projects efficiently and safely, and contribute our subsea engineering capabilities for the offshore development of this region.”

Press Release, July 12, 2013