Ezion Secures Charter Contract for Service Rig Offshore Myanmar

Ezion Holdings Limited announces that it has secured a charter contract with a value of up to USD 118 million over a 3 year period to provide a service rig (“Service Rig”) to be used by a European based multinational oil company to support its oil & gas activities in offshore Myanmar.

The Service Rig is expected to be deployed and working in the field of Yadana before the end of 2012 after its refurbishment and upgrading. The above mentioned project will be funded through internal resources as well as bank borrowings.

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World Maritime News Staff, February 22, 2012; Image: Teras