Ezra and Emas Offshore to sell vessel

OFFSHORE services provider Ezra Holdings and an Emas Offshore unit plan to divest their stakes in the Lewek Emas vessel, they said in a press release late Thursday. The proposed sum was not disclosed.

They have accepted a non-binding letter of intent to sell at least their current combined 78.4 per cent stake in PV Keez, a special purpose vehicle that owns the vessel, to an unnamed "global infrastructure investment firm", they said.

The vessel is chartered to Premier Oil Vietnam Offshore which operates the Chim Sao field offshore of southern Vietnam, they noted.

The Emas Offshore unit involved is Emas Offshore Production Service (Vietnam). It and Ezra "are expected to receive an aggregate consideration of a combination of cash and sellers credit" once the deal is done, Ezra and Emas said.

They said the transaction was expected to be completed by the end of June this year.