EOC Completes Sale of FPSO Perisai Kamelia

Singapore-listed Ezra Holdings Limited reported that associated company EOC Limited has completed the sale of its equity interest in FPSO Perisai Kamelia - previously FPSO Lewek Arunothai - to Perisai Petroleum Teknologi Bhd's wholly-owned subsidiary Perisai Production Holdings Sdn Bhd Aug. 21.

"Further to the announcement made Dec 1, 2012, the Board of Directors of Ezra Holdings Limited (the Company) wishes to announce that EOC, which is 45.7 percent owned by the Company, has completed the sale of 51 percent equity interest in the entities owning and operating FPSO Perisai Kamelia to Perisai Production Holdings Sdn Bhd (a wholly owned subsidiary of Perisai Petroleum Teknologi Bhd, an associate of the Company) Aug. 21, Ezra said in a press release.

Prior to the sale to Perisai, FPSO Lewek Arunothai has been chartered by Hess Exploration and Production Malaysia for three years in a deal worth $272.1 million, with an option to further extend three years for $271.1 million. Under the charter, the FPSO will deploy to the North Malay Basin, Malaysia as part of a fast-track gas production project by Hess.



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