IEV Awarded FPSO Decommissioning and Towage Contract

IEV Holdings has been awarded a contract for the decommissioning and towage of a FPSO from offshore Terengganu in Malaysia.

The value of the project is approximately RM 50 million. The project is scheduled to commence in January 2014 and is expected to be completed within two months.

IEV will be executing the project together with EMAS-AMC Pte Ltd, a leading global offshore service provider equipped with a fleet of young and advanced DP subsea construction and installation vessels, to support the offshore decommissioning phase of the project.

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Press Release, January 14, 2014