Jack-up rigs, liftboats to see demand in 2013, Ezion says

Singapore: More jack-up rigs and liftboats are expected to be deployed in 2013 to meet continuing strong demand from the oil and gas industry, according to Singapore-based Ezion Holdings, which posted improved earnings in the full year ended 31 December 2012.

“The group expects more assets to be deployed in 2013, which includes liftboats and jack-up rigs. The group is also expected to enjoy higher revenue from Australia with the commencement of the APLNG and GLNG projects in 2013,” Ezion said.

Singapore-listed Ezion recorded net profit of $78.84m in 2012, a 35.7% jump compared to $58.12m in 2011.

Revenue also surged 48.4% year-on-year to $158.67m.

Posted 21 February 2013

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Lee Hong Liang

Asia Correspondent

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