Ezra Holdings has boosted its orderbook by $85m worth of new contracts for subsea services across Asia-Pacific. The projects are expected to commence within the next six months. “The total subsea orderbook for Ezra Group has now swelled to more than $300m,” said Lionel Lee, managing director at Ezra. “This is set to expand further as the subsea construction sector grows in response to depleting shallow fields and increased energy demands from nations such as China and India.” The subsea works include provision of subsea umbilical, riser and flowline installations, platform installations, offshore support and accommodation services for various offshore field development projects. Meanwhile, the Singapore-listed firm posted a net profit of $6.6m for the third-quarter of 2011 as against $26.3m for the previous corresponding quarter. The decrease was largely because of costs from the integration of Aker Marine Contractors Group, higher overheads and higher financial expenses in respect of expansion programme. Revenue rose 51% to $164.8m in the third-quarter compared to $108.8m in the previous year's quarter.
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