Ezion Holdings won a charter contract and a letter of intent worth a total of $167.6m to provide two service rigs to multinational oil majors to support their oil and gas activities in the North Sea, Seatrade Asia online reports.
The $80m charter contract is over five years and the service rig is expected to be deployed by the end of 2012 after its minor refurbishment and upgrading.
Ezion also received a letter of intent worth about $87.6m to provide another service rig over a four-year charter. The rig is expected to be deployed by mid-2014.
Singapore-listed Ezion said the projects will be funded through internal resources as well as bank borrowings.
Meanwhile, Ezion reported a 130% year-on-year surge in its second quarter net profit to $28.1m and revenue also jumped 41% to $37.2m.
The strong second quarter performance was largely attributed to higher income from chartering and increased deployment of vessels.
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