IMO ENVIRONMENTAL REGULATIONS
Are IMO regulations tough enough to keep national governments from imposing stricter measures?

Yes--Mostly
Only partly
No--expect a slew of regional regs!

Marine Log

August 7, 2007

Milestone contract for new Ezra vessel

Singapore's Ezra Holdings Limited had good reason to celebrate at the official christening ceremony of its first heavy-lift, accommodation and pipe-lay vessel, the Lewek Champion, in Batam, Indonesia.

Ezra's 88%-owned subsidiary, EOC Limited announced that its Emas Offshore Construction and Production Pte Ltd ("EOCP") unit had secured a milestone pipelay and construction contract to provide services as part for a US$888 million sub-sea installation project in Southeast Asia for a national oil company.

The Lewek Champion will play a key role in the installation of sub-sea pipelines as well as the transportation and installation of drilling, production and wellhead platforms in the offshore field.

Ezra's Managing Director Lionel Lee commented: "The Lewek Champion has helped us to broaden our market reach in the offshore production and construction segment where we expect demand to take off. This contract again demonstrates the confidence of oil majors in Ezra's capability to provide a highly professional and reliable level of offshore integrated support services for oilfield development and production work. It also entrenches our position as a leading player in offshore deep water vessel charters. We have deliberately enlarged our fleet to cover the different stages of an oilfield's lifecycle and Ezra, with its modern fleet and expertise, has room to grow further."

Lewek Champion is a Class DP2 Dynamically Positioning vessel, which can be upgraded to a DP3. It is equipped with an 800-tonne heavy-lift crane and is purpose-built for sub-sea pipeline construction support work. It can accommodate over 500 men.

"We expect the field exploration and development market to continue to thrive in the medium term as we continuously seek to participate in field work where we can tap on even higher charter rates in the still-buoyant industry," noted Mr. Lee.

In June, Ezra announced that the Lewek Champion would be chartered to ConocoPhillips for accommodation support and decommissioning work in the planned shut-down of the Bayu Undan platform, located in the Timor gap, an area of ocean flanked by Timor, Indonesia, and Australia.

The group expects to take delivery of its second pipelay, accommodation, well service and maintenance vessel in first half 2009. This ultra-large vessel will also be equipped with a Class DP2 system, upgradable to DP3.

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