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EMAS's Offshore Construction Division Awarded Chevron Contract.

* EMAS AMC awarded contract from Chevron Thailand for offshore installation services in the Gulf of Thailand

* On track to US$1 billion target as orderbook leaps to over US$600 million

SINGAPORE -- EMAS, a leading global offshore contractor and provider of integrated offshore solutions to the oil and gas (O&G) industry and operating brand for Ezra Holdings Limited (Ezra or the Group), continues to boost its orderbook of marine and/or offshore construction contracts. The latest contract win was awarded to EMAS AMC, the Group's offshore construction division, by Chevron Thailand Exploration and Production Ltd, Chevron Offshore (Thailand) Ltd and Chevron Pattani Ltd (collectively, "Chevron Thailand").

This award will see EMAS AMC installing a number of wellhead platforms and associated pipelines in the Gulf of Thailand. This project is expected to commence in early 2012 for a three year firm period (2012 - 2014) with an option period for an additional two years (2015 - 2016), which in aggregate is estimated to increase the orderbook for EMAS AMC to over US$600 million.

Mr Lionel Lee, EMAS's Managing Director, said: "This award is an important milestone for us and reaffirms the growing relationship that we have with Chevron in the Asia Pacific region".

"The total subsea orderbook for EMAS AMC is now past the halfway mark and is closer to our short-term target of US$1 billion for the segment. EMAS AMC is moving steadily closer towards becoming fully integrated within the EMAS Group and the combined entity will propel us towards our objective of being a global leader in marine and offshore construction."

ABOUT THE GROUP

EMAS - a leading global offshore contractor providing construction, marine, production and well intervention services - is the operating brand for Ezra Holdings Limited. Adept in delivering best-value solutions, EMAS has entrenched itself as a powerful adjunct in the oil and gas (O&G) industry by combining its customised approach with a diverse offering of assets and services designed to fully meet clients' needs. It operates globally with offices in 16 locations across five continents spanning Africa, the Americas, the Asia-Pacific and Europe.

Having completed the acquisition of Aker Marine Contractors AS in 2011, the Group has added one of the world's leading SURF (subsea umbilicals, risers & flowlines) and floater installation providers to its fold. Ezra, through EMAS, operates four main business segments that together have the ability to execute a full spectrum of seabed-to-surface engineering, construction, marine and production services throughout the world.

Amplifying the broad assets and services offered by EMAS, the technical strength and service record at EMAS AMC will allow the Group to provide comprehensive offshore seabed-to-surface construction services to the O&G industry globally. The service offerings include subsea construction, IMR (inspection, maintenance & repair), floater and FPSO (floating, production, storage & offloading) installation, SURF installation, pipelay & heavylift, floatover installation and decommissioning.
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Comment:EMAS's Offshore Construction Division Awarded Chevron Contract.
Publication:Business Wire
Geographic Code:9SING
Date:Aug 16, 2011
Words:539
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