Ezion received a letter of intent with a contract value of approximately USD 80.3 million over a 4 year period to provide a service rig to support an Asian based national oil company
The Board of Directors of Ezion Holdings Limited announces that it has received a letter of intent with a contract value of approximately USD 80.3 million over a 4 year period to provide a Service Rig to be used by an Asian based national oil company to support its oil & gas activities, said in the company's press release. The Service Rig is expected to be deployed and work ing in South East Asian waters by the end of 2013 after its refurbishment and conversion. The above mentioned project will be funded through a bond issue. The abovementioned project is not expected to have a material impact on the Group’s earnings per share or net tangible assets per share for the financial year ending 31 st December 2013.