Ezion enters into a contract to provide a jack-up rig to support a National Oil Company
Ezion Holdings Limited has entered into a contract to provide a Jack-up Rig to support a South Asian based national oil company with a value of approximately up to USD 87.6 million over a 3 year period, the company said in its press release. The Jack-up Rig which will be deployed in the Arabi an Sea in South Asia is expected to be working by early 2015 after its refurbishment and upgrading. The abovementioned charter 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 31st December 2014.
The Group is the owner of one of the largest and most sophisticated class of Multi- Purpose Self Propelled Jack-up Rigs in the world and one of the first to promote the usage of Liftboats in Asia & Middle East. Ezion’s Liftboats are used mainly for well-servicing, commissioning, maintenan ce and decommissioning of offshore platforms. The Group is also the owner of a fleet of vessels, consisting of tugs, ballastable barges, offshore support vessel and self-propelled barge that are used in the provision of offshore marine logistics and support services to the offshore oil and gas industries.
The Group’s fleet of ballastable barges, one of the largest in the region, has been specially reinforced and modified to carry the prefabricated modules in the construction of LNG extraction facilities and jackets for the offshore oil and gas industries. The Group’s operating companies also offers a range of services to include marine consulting related to the development & construction and marine logistic solutions for marine offshore facilities. Branch offices in Korea, The United States of America and Australia provide logistics, supercargo, engineering and freight forwarding to complement existing operations.