EMAS secures $125M in new subsea contracts
- Business & Finance
EMAS, the operating brand of Ezra Holdings, today announced that the Group has been awarded subsea construction and offshore support contracts in Asia Pacific and West Africa with a combined value exceeding US$125 million, including options.
Following contract wins in January, EMAS AMC continued its momentum with subsea contracts awarded in West Africa and Asia, including a deepwater pipeline installation project in the South China Sea. The scope of work includes FPSO mooring repair work in West Africa, and in Asia, the installation of flowlines, associated PLETS (Pipeline End Terminations) and spools in working water depths of up to 1,400m. Work for these projects is expected to begin in the first quarter of 2014, and will be managed from EMAS AMC’s Houston and Singapore offices.
EMAS Marine added contracts for offshore support work in Malaysia, Thailand and Australia with the deployment of two Anchor Handling Tug and Supply vessels and one Platform Supply Vessel.
“These are important wins for us as it strengthens our presence in West Africa and growing leadership in Asia. The subsea project in the South China Sea is also a clear recognition of the deepwater pipelay capabilities of our subsea team and our key assets here in Asia,” said EMAS’s Group CEO and Managing Director, Lionel Lee.
“The Asia Pacific region is an important market for us with offshore support, subsea construction and engineering activities expected to continue picking up as oilfield operators venture further offshore. With our strong roots here in Asia, we are well positioned to compete for the many upcoming projects in the region.”
EMAS reported strong top-line growth with operational profitability in 1QFY14 and the Group’s orderbook currently stands at above US$2 billion.
In a separate announcement, the Group’s associated company, EOC Limited, announced a US$100 million award for the Lewek Conqueror, a hook up and maintenance accommodation barge, for work in South East Asia.
Press Release, March 05, 2014