Ezra Holdings Limited (Ezra or the Group), a Singapore-based contractor and provider of integrated offshore solutions to the oil and gas industry, announced Thursday that the Group’s Subsea Services division, EMAS AMC, has won multiple new awards from various oil and energy companies worth approximately $55 million.
Scope of work includes project support, inspection, maintenance and repair (IMR), subsea removal work of pipelines and structures, installation of buoys and lifting of structures and mattresses, as well as a pre-FEED study.
Work has commenced for several projects, with the others slated for offshore execution from 3Q FY2015 onwards.
“Amidst the volatile oil price environment and current headwinds faced by the oil and gas industry, we continue to show resilience with contract wins across the globe. The spectrum of work also builds our global track record and demonstrates our subsea expertise and the capabilities of our project enabling assets,” said Lionel Lee, Ezra’s Group CEO and managing director.
The Group has secured a healthy backlog of approximately $2.3 billion, with a majority of the contracts expected to be executed over the next 24 months. Since the beginning of 2015, Ezra has announced some $550 million project wins across the Group.
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