Friday 13 May 2016

Ezra Holdings Limited (“Ezra” or the “Group”), a leading contractor and provider of integrated offshore solutions to the oil and gas (“O&G”) industry, announced today that the Group’s subsidiaries, EMAS Offshore Limited (“EMAS Offshore”) and EMAS Energy, have secured new contract awards and letters of intent amounting to approximately US$40 million, including options, since the start of 3Q FY2016.

EMAS Energy’s new contract award will see the division supporting an oil major on well stimulation and well plugging activities in the Gulf of Thailand. Separately, EMAS Offshore has also announced earlier that it has secured new awards and letters of intent for charter contracts with national oil companies, international oil companies and other offshore contractors in Southeast Asia and West Africa.

Mr Lionel Lee, Ezra’s Group CEO and Managing Director, commenting on these new contract wins, said, “We are delighted to announce these contract wins awarded to our various subsidiaries. It is heartening to see the hard work of our team, our relationships with customers and the reputation we have built for safety and service excellence bear fruit even during this challenging period for the industry.

While the key business teams have been forging ahead in their tendering efforts, we have also been putting a stronger structure in place for future growth. With the finalisation of our recent EMAS CHIYODA Subsea joint venture transaction, we believe we are now better-placed to drive our business forward through a more comprehensive offering."