Singapore's Ezion Scores Services Contract worth $80M

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Singapore-listed oil and gas services provider Ezion Holdings said Wednesday that it has secured a five-year charter contract worth about $80 million to provide a service rig to an European oil major. The service rig is expected to be deployed and working offshore Denmark by the end of this year.

 

In addition, Ezion disclosed that it has received a four-year letter of intent worth approximately $88 million to provide another service rig, also offshore Denmark. The letter of intent states that the service rig is to be deployed and working in the North Sea by mid-2014.

 

Ezion officials were unreachable for additional comments on Wednesday.

 

"Ezion has garnered a string of new contracts this year, demonstrating strong demand for its service offerings in the offshore market," Maybank Kim Eng's Analyst Yeak Chee Keong told Rigzone on Wednesday.

 

The company had earlier on August 2, 2012, announced that it has been awarded a $17 million contract to provide full logistics and support services for the haulage of equipment and modules for the development of liquefied natural gas (LNG) facilities on Curtis Island, Queensland. Ezion did not disclose which company had awarded it the service contract, but Rigzone's data shows that Ezion's description of the project corresponds to that of the Australia Pacific LNG (APLNG) project.

 

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