Ezion signs $65m contract to provide service rig

The service rig is expected to be deployed and working in the Southeast Asia waters by late third quarter of 2015.

Ezion said it is currently in the process of forming a joint venture company to order and own an additional service rig for the project.

“The above mentioned project will be funded through internal resources as well as bank borrowings,” Singapore-listed Ezion said.

Ezion owns a fleet of vessels comprising of tugs, ballastable barges, offshore support vessels and self-propelled barges.