Ezra Clinches $200 Mln Contracts from Korea’s STX and Daewoo

Ezra Clinches $200 Mln Contracts from Korea's STX and Daewoo

Ezra Holdings Limited , a leading global offshore contractor and provider of integrated offshore solutions to the oil and gas (O&G) industry, today announced that it has secured two contracts with major South Korean clients worth a combined total of approximately US$200 million.

Ezra’ subsea division (EMAS AMC) was awarded an EPCIC contract in Asia by STX Offshore & Shipbuilding Co. Ltd for the engineering, procurement, construction, installation and commissioning of a turret mooring and subsea system for use in offshore Africa. EMAS AMC’s scope includes the turnkey delivery of an external turret including the product swivel, a 3×3 anchor leg system, foundation piles, pipeline end manifold (PLEM), flowlines, risers, power cable and related subsea structures.

The engineering and project management work will commence immediately with offshore execution scheduled for 2015

Separately EMAS AMC has further entered into an agreement with DSME for one of its accommodation and hook-up support vessels also for operations offshore Africa. Offshore operations are expected to commence in the first quarter of 2014.

 Lionel Lee, Managing Director of Ezra, said: “Our double contract wins demonstrate Ezra’s abilities to deliver advanced turnkey projects in emerging markets through the utilisation of our high-end installation assets under EMAS AMC. As more projects come online in this part of the world, Ezra is well-poised to take advantage of its opportunities. The contract wins come on the back of an eventful year that saw Ezra’s revenue approaching its first billion dollar mark.”
Press Release, November 8, 2012