Ezion gets service rig charter deal

Singapore’s Ezion Holdings Limited has secured a charter contract with a value of approximately USD 35 million over a 3 year period to provide a service rig to be used by a Middle Eastern state-linked company to support its oil & gas activities in the Arabian Gulf.

The service rig is expected to be deployed and working in the offshore oil & gas fields in the Arabian Gulf by 1H 2015 after its refurbishment and upgrading.

Ezion said that the 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.”

Press Release, April 16, 2014

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