Offshore contractor Ezra Holdings has secured a bag of contracts worth more than $500million through its subsea services (EMAS AMC) and offshore support services (EMAS Marine) divisions.
The work has been secured in the North Sea, Africa, Gulf of Mexico and Asia-Pacific markets.
A particular highlight is the letter of intent received by EMAS AMC for a $120million project offshore West Africa which is to be carried out in 2014 utilising its currently in-build flagship, the Lewek Constellation, together with the Lewek Express.
The field development on which the two vessels will be working has not been disclosed. The Constellation will carry out jacket and deck installation, while the Express will carry out the SURF and rigid pipeline installation aspects.
EMAS AMC’s foothold in the global subsea sector is further strengthened with four more contracts. They comprise:
- A $105million contract awarded by an oil major to support a deepwater project in West Africa
- Two awards covering work in the US Gulf of Mexico with a combined value of $53million
- A package of work worth up to $126million (including options) for Statoil in the North Sea covering the installation of up to three floating oil storage units destined variously for the Heidrun (Norway) and Mariner (UK) fields
Singapore-headquartered Ezra said that some of the work would start this year and that certain elements were scheduled to run through to 2016.
On its own, EMAS AMC has won an aggregate of about $1.4billion for the current financial year to date.
Adding to the group’s contract wins, EMAS Marine has been awarded five time charter contracts, for a platform supply vessel (PSV) and four anchor handling, towing and supply (AHTS) vessels.
These charters were awarded by a mix of oil majors, NOCs and independents.
The charters, to be carried out in the Asia-Pacific region alone, are worth a total of $102million (including options). The average tenor of these contracts is approximately 2.2 years.
Turning to the Lewek Constellation, this multi-lay and heavy-lift hybrid is currently under construction at SOFEL in Vietnam and due for delivery at the end of this year, in time for its first campaign in 2014.
Designed to execute complex projects in water depths exceeding 3,000m, the ice-class Lewek Constellation measures 178m length overall, by 46m breadth and has a cargo deck area of some 4,200sq.m without pipe storage reels.
Clearly pleased with build progress to date, Ezra group MD Lionel Lee said: “We are extremely delighted with Lewek Constellation, one of only a handful of vessels in its class globally.
“This project marks the beginning of a new chapter for Ezra. We look forward to reaching ‘new depths’ in our offerings of subsea services and engineering solutions for our clients.”
Turning to the group’s geographic expansion he said: “To continue our strong momentum, we are now steadily seeing the results from our increased activity in Africa, the Gulf of Mexico and the North Sea.
“EMAS AMC is gaining increased traction and market recognition and in the near future, we will be able to gain further market share with additional project enabling assets such as the Lewek Centurion, Lewek Express and Lewek Constellation, which are all coming into service relatively soon.
“The contract wins in the Asia Pacific region highlight our competitive edge in offshore support services for the region. They include longer term charters in Malaysia and Thailand where we are focusing our resources on growth to strengthen our leadership position in Asia.”
Energy has long warned that what is an essentially Asia-Pac company would begin to assert itself worldwide and present significant competition to the European brands. Ezra’s rapid progress is evidence of this.
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