Singapore: Ezra Bags Offshore Deals Worth USD 120 Million

Ezra Holdings Limited, an offshore contractor and provider of integrated offshore solutions to the oil and gas industry, today announces two further contract wins worth a total of up to US$120 million for the Group.

The offshore support services division, EMAS Marine, has been awarded a new charter by an oil major for a vessel to be deployed in the Asia Pacific region in the 2nd quarter of 2012. The contract has a one year firm period and an additional option period of two years with an aggregate contract value of up to US$107million (including option periods).

Ezra’s subsea construction division, EMAS AMC, has secured the second contract which is a variation order for additional SURF (subsea, umbilicals, risers and flowlines) installation work. The scope of work worth approximately US$13 million will involve the installation of mooring lines offshore West Africa.

Mr Lionel Lee , Ezra’s Managing Director, said: “These latest global contract wins demonstrate Ezra’s twin engines of growth in offshore support and subsea construction. Along with our recent Statoil contract we have boosted the Group’s backlog to a record of approximately US$1.6 billion and have built a solid foundation for further growth in the years ahead.”

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Offshore Energy Today Staff, January 12, 2012; Image: Emas