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EMAS Offshore Limited: EMAS Offshore Gains Win Momentum with Three Contract Awards Worth US$24 Million

EMAS Offshore Limited: EMAS Offshore Gains Win Momentum with Three Contract Awards Worth US$24 Million

SINGAPORE--(BUSINESS WIRE)--Jul 6, 2015--Regulatory News:

EMAS Offshore Limited ("EMAS Offshore" or "the Group"), an established offshore services provider offering offshore support, accommodation, construction and production services to the oil and gas industry, today announced that it has secured three new awards for charters with oil majors in West Africa and Thailand valued at more than US$24 million (including options).

In West Africa, EMAS Offshore's Anchor Handling Tug and Supply ("AHTS") vessel will be providing sea transportation services that include towing, performing anchor handling and positioning of rigs and other floating structures for an oil major.

Over in the Gulf of Thailand, EMAS Offshore's other two contracts are with EMAS Energy, an entity that belongs to the Well Services division of Ezra Holdings Limited. One of the contracts is part of an integrated and comprehensive solution for an oil major in Thailand, and is a charter for a Platform Support Vessel, while the other contract is for the provision of an AHTS vessel for a national oil company, both awarded after a competitive tendering process. The scope of work includes the provision of accommodation, towing, anchor handling and logistics support for oil and gas production platforms, and collectively is worth some US$12 million.

Mr. Jon Dunstan, EMAS Offshore's Chief Executive Officer, said: "We have a distinct advantage of being able to deploy vessels globally. I am delighted to see that our strategy of focusing our efforts in West Africa where offshore activities remain healthy is paying off.

"Additionally, the wins in Thailand demonstrate the synergy we have within the EMAS brand to deliver integrated solutions, and is yet another competitive advantage we can leverage, especially amidst market volatility."

The average contract duration for the contracts is approximately 1.1 years and the charters are expected to commence in Q4 FY2015.

ABOUT THE COMPANY

www.emasoffshore.com

Oslo Bors listing: October 2007?; SGX Mainboard listing: October 2014

EMAS Offshore Limited (EMAS Offshore or the Company) is an established offshore services provider offering offshore support, accommodation, construction and production services to customers in the oil and gas industry throughout the oilfield lifecycle, spanning exploration, development, production and decommissioning stages. Headquartered in Singapore, EMAS Offshore holds a leading market position in the Asia Pacific region, with global operations across Latin America, Africa and Australia.

Business activities are carried out by two core business segments, namely: (1) the Offshore Support and Accommodation Services division and (2) the Offshore Production Services division.

EMAS Offshore's excellent operational and HSE (health, safety and environment) track record has allowed the Company to establish strong working relationships with leading international oil majors, national oil companies and various independent operators.

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View source version on businesswire.com:http://www.businesswire.com/news/home/20150706005614/en/

CONTACT: EMAS Offshore?Limited

Mr. Jason Goh

65 6590 8209

investor_relations@emasoffshore-cnp.com

KEYWORD: EUROPE NORWAY

INDUSTRY KEYWORD: ENERGY OIL/GAS

SOURCE: EMAS Offshore Limited

Copyright Business Wire 2015

PUB: 07/06/2015 11:41 AM/DISC: 07/06/2015 11:41 AM

http://www.businesswire.com/news/home/20150706005614/en


Updated : 2021-09-19 15:22 GMT+08:00