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February 1, 2015

Ezra’s EMAS AMC unit secures $65m subsea contracts

Ezra Holdings' subsea services division, EMAS AMC, has won several contracts worth more than $65m, including options from global independent oil companies and contractors.

Ezra Holdings’ subsea services division, EMAS AMC, has won several contracts worth more than $65m, including options from global independent oil companies and contractors.

The deals require EMAS to provide project management, engineering, and transportation and installation works for a floating production storage offloading (FPSO) vessel in Africa.

It also includes several engineering and offshore construction support contracts. Ezra said the deals come off the back of a subsea construction contract from Apache Energy.

"Since the beginning of 2015, the group has announced contract wins totalling more than $355m."

The company has started work on the several project activities with offshore work due to begin in 2015 and 2016.

Ezra group CEO and managing director Lionel Lee said: "Despite the current headwinds faced by the oil and gas industry, our tendering activities remain healthy.

"We sit in the value chain where it is more resilient. Since the beginning of 2015, the group has announced contract wins totalling more than $355m."

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The company said the Lewek Constellation ice-classed, DP3 multi-lay construction vessel is on-track to start operations by March 2015 with the completion of the increased loan facility.

The vessel completed installation of multi-lay system in the Netherlands and is currently undergoing commissioning works.

EMAS AMC is a global EPCIC service provider of subsea-to-surface solutions for the offshore oil and gas industry, particularly in the SURF and subsea tie-back sector.

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