Ezion Wins Charter Deal for Service Rig in Denmark. Sells Liftboat

Ezion Holdings Limited  has secured a charter contract with a value of up to USD 80.3 million over a 4 year period to provide a second North Sea Class service rig (“Service Rig”) to be used by a European oil major to support its oil & gas activities in offshore Denmark.

The Service Rig is expected to be deployed and working in offshore Denmark by the 4 th Quarter of 2012 after its refurbishment and upgrading.

Liftboat Divestment

The company today also announces that it has signed a term sheet with a group of investors to sell 100% of the shares of its wholly-owned subsidiary, Teras Conquest 4 Pte  Ltd (“Teras Conquest 4”), the asset holding company which owns one unit of Liftboat for US$25,000,000.00.

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Offshore Energy Today Staff, February 15, 2012; Image: Terras