The four-year contract will see the rig get deployed in the offshore oil and gas fields in the Middle East around mid-2014 after its refurbishment and upgrading.
“In conjunction with above mentioned project, the group will form a joint venture with Kim Seng Holdings through its subsidiary, Scott & English Limited, to acquire and own the service rig,” Ezion said.
The project will be funded through internal resources as well as bank borrowings, it added.
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