Ezra kicks off 2012 with $120 million of new orders

lionelleeLionel Lee, Managing Director of Singapore based Ezra Holdings Limited says two just-announced contract wins worth up to US$120 million demonstrate the group'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," says Mr. Lee.

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 second 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). 

The other contract is for Ezra's subsea construction division, EMAS AMC, which has been awarded 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.  

January 12, 2012

Want more? Subscribe now!

News from NASDAQ