Ezion Bags $79M Charter Contracts to Supply Service Rigs

Singapore-based offshore services provider Ezion Holdings Limited reported Tuesday that the it has bagged two charter contracts, valued at $78.7 million, to supply service rigs to two different companies for work in the first half of 2015.

The first service rig will, upon completion of its refurbishment and upgrading, be deployed to the Arabian Sea in South Asia to support a South Asian based national oil company under a three year charter contract worth about $43.7 million.

Separately, Ezion secured a three year charter contract with a value of around $35 million to provide a service rig for use by a Middle Eastern state-linked company to support its oil and gas activities in the Arabian Gulf. The service rig is expected to be deployed for work in offshore oil and gas fields in the Arabian Gulf by the first half of 2015 after it completes refurbishment and upgrading.

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