EMAS AMC Wins Statoil Contract for Heidrun, Mariner Fields

Singapore-listed Ezra Holdings Limited announced Friday that its subsea services unit EMAS AMC has bagged a transport and floater installation contract worth $126 million for two floating storage units (FSU), including an option for a third, from Statoil for the Heidrun and Mariner fields in the North Sea.

Ezra said the contract is part of the $505 million of new projects that it had announced in a press release July 11.

EMAS AMC - which will managed the projects out of its Oslo office - will carry out pre-installation of mooring systems, followed by the transport, hook-up and installation of the FSUs in their respective fields.

“We have had multiple contract wins since the beginning of 2013 for EMAS AMC in the North Sea. We are greatly encouraged by the momentum we have achieved, and are gratified by the show of confidence in us by oil operators there," C.J. D’Cort, CEO of EMAS AMC, said in a press release.

“These awards will further help to grow our track record for operating in one of the most challenging environments in the world. These wins, coupled with increased activity in the Gulf of Mexico and Africa, are a clear recognition of our ability to execute a variety of subsea projects across our key global business regions.”

EMAS AMC will commence offshore operations at the Heidrun field, located off Norway’s west coast in water depth of around 1,148 feet (350 meters), from mid-2014. Offshore work at the Mariner field in the United Kingdom Continental Shelf in water depth of 361 feet (110 meters), is scheduled to begin in mid-2015.

“We are extremely delighted to once again be working with Statoil for these developments in the North Sea. We look forward to executing and delivering these projects efficiently and safely, and contribute our subsea engineering capabilities for the offshore development of this region,” Svein Haug, regional head of EMAS AMC (Europe and Africa), said in the press release.

Samsung Heavy Industries won the contract from Statoil in September 2012 to build a FSU for the Heidrun field. The contract included an option for two additional units.



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