Ezion Secures a Service Rig Charter Agreement in Arabian Gulf

Singapore’s Ezion Holdings Limited announced that it has secured a charter contract with a value of approximately USD 48.2 million over a 3 year period to provide a service rig to be used by an international oil company to support its oil & gas activities in the Arabian Gulf.

The service rig is expected to be deployed and working in the offshore oil & gas fields in the Arabian Gulf before the end of 2013 after its refurbishment and upgrading.

Ezion said that the project would be funded through internal resources as well as bank borrowings.

[mappress]

March 20, 2013