Ezion Gets Service Rig LoI

Singapore’s  Ezion Holdings Limited has be given a letter of intent to provide a service rig to a Southeast Asian based national oil company.

With a contract value of up to approximately USD 94 million, the rig is expected to stay with the client over a 5 year period. It will be used to support the client’s oil & gas activities.

The rig is expected to be deployed and working in the Southeast Asian waters by the first quarter of 2016.

Ezion, as per their usual practice, did not disclose the name of the client.

“The abovementioned project 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,” Ezion said in a statement.

Offshore Energy Today staff, January 16, 2014

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