EMAS awarded subsea projects worth US$ 80 million

EMAS, the operating brand of Ezra Holdings, a leading global offshore contractor and provider of integrated offshore solutions to the oil and gas industry, has announced that its subsea services division (EMAC AMC) has been awarded projects worth a total of approximately US$ 80 million, including options.

The scope of these projects cover a large spectrum of subsea work, including the decommissioning and towage of an FPSO in Asia and the deployment of an inspection, maintenance and repair (IMR) vessel in the Americas. Work for a majority of the contracts is expected to commence by the first half of 2014.

“We are extremely pleased with these contract wins, which allows us to showcase the breadth of capabilities that EMAS AMC possesses as well as our global reach,” said EMAS’s Group Chief Executive Officer and Managing Director, Lionel Lee.

"It is an auspicious start to the new year. We are seeing a good pick up of activities in the key regions where we are focused on, and we are well-positioned to take advantage of the upturn in 2014.”

The group began the year wit steong top-line growth with operational profitability, registering a 22% jump to US$ 339.8 million in revenue compared to the corresponding period in FY13. The Group’s subsea orderbook stands at more than US$ 1.4 billion, and is still tendering for some US$ 9 billion in projects worldwide.

Adapted from press release by Hannah Priestley-Eaton

Read the article online at: https://www.worldpipelines.com/business-news/24012014/emas_awarded_subsea_projects_worth_us80_million/