Ezra's subsea arm awarded project in offshore Trinidad
EZRA Holdings' subsea services division EMAS AMC has finalised a contract with BHP Billiton for the Angostura phase 3 development project in offshore Trinidad and Tobago.
Ezra provided no details on the value of the contract but said the scope of work involves project management, fabrication, construction and installation of 12-inch flowlines along with a complete subsea package.
Engineering and procurement are currently under way from EMAS AMC's Houston office with fabrication of the subsea structures and stalking and spooling of flowlines to be carried out at EMAS Marine Base facility in Ingleside, Texas. Offshore execution is scheduled for mid-2016, which will utilise the Lewek Express subsea construction and reel lay vessel.
Ezra recently announced that it signed a binding memorandum of understanding for Chiyoda Corp to invest in its subsea services unit to form 50:50 joint venture EMAS CHIYODA Subsea.
The counter was unchanged at 13 Singapore cents, as at 9.15 am on Monday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UBS weighs synthetic risk transfer amid capital boost proposals
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results