Singapore's Ezra Holdings said Thursday that its subsea construction division – EMAS AMC – has secured two contracts in the Gulf of Mexico and West Africa.
The contract in the Gulf of Mexico involves providing natural gas gathering services for a long-term campaign on the Walker Ridge Gathering System. The scope of work – undertaken by the subsea construction vessel Lewek Falcon – consist of the transportation and installation of suction piles, manifolds and jumpers along with pipeline pre-commissioning support. EMAS AMC expects to start work in the first half of next year.
The contract in West Africa extends an existing general service agreement with ExxonMobil for subsea engineering, subsea construction and remote operated vehicle support activities through mid-2014. A spokesperson with Ezra said that the company is unable to disclose which vessel is in service with ExxonMobil due to confidentiality terms.
The two contracts are worth over $65 million, Ezra disclosed.
In a separate statement, Ezra reported Thursday that its net profit for its fourth quarter ending Aug. 31, 2012, slumped 41 percent to $7.26 million, from $12.30 million a year ago.
Revenue for the twelve months was $984.18 million, up 76 percent from $559.10 million a year ago. Ezra attributed its revenue gains to the successful integration of its subsea services operations held under the EMAS AMC group.
Source: RIGZONE
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