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Ezra subsidiaries land new contract awards, letters of intent worth US$40 million
EZRA Holdings, which provides solutions to the oil and gas industry, has secured new contract awards and letters of intent worth US$40 million via its subsidiaries, EMAS Offshore and EMAS Energy, since the start of Q3 FY2016.
EMAS Energy's new contract award will see the division supporting an oil major on well stimulation and well plugging activities in the Gulf of Thailand. Meanwhile, EMAS Offshore has secured new awards and letters of intent for charter contracts with national oil companies, international oil companies and other offshore contractors in South-east Asia and West Africa.
Lionel Lee, Ezra's group chief executive, said: "While the key business teams have been forging ahead in their tendering efforts, we have also been putting a stronger structure in place for future growth. With the finalisation of our recent EMAS CHIYODA Subsea joint venture transaction, we believe we are now better-placed to drive our business forward through a more comprehensive offering."