Ezra's subsea services division, EMAS AMC, won two of the contracts, one in the Gulf of Mexico and another in West Africa for two major oil companies. The work on project management and installation of flexible risers, hydraulic umbilicals and anchor chains in Africa will start in the second quarter of 2013.
Separately, the contract in the Gulf of Mexico on installation of flowlines, umbilicals, jumpers and flying leads will commence in the third quarter of this year.
In addition, Ezra's offshore support services division, EMAS Marine, was awarded an eight-year deal, including options, for offshore exploration work with a oil major in the Philippines. The charter of one of EMAS Marine's AHTS will being later this month.
The division also secured a five-year contract extension for one of their vessels in West Africa.
Meanwhile, Singapore-listed Ezra reported stronger first half earnings with revenue up 34% year-on-year to $525.82m and net profit inching up 3% to $36.44m.
“Industry players across the subsea sector faced unexpected postponement of project awards and execution as well as supply chain bottlenecks, tempering the outlook for the segment this year,” commented Lionel Lee, managing director of Ezra.
“Even so, Ezra managed to hold its own in 1H FY13, and we believe that prospects for the subsea sector will remain strong over the medium to long term,” he added.
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