Singapore’s Ezion Holdings Limited has secured a $49 million contract to provide a service rig to be used by an oil major to support its oil & gas activities in the Middle East. The contract is for a period of four years.
The service rig is anticipated to be deployed and working in offshore oil and gas fields in the Middle East around mid-2014 after its refurbishment and upgrading.
In relation to the award, Ezion said it would establish a joint venture company with Kim Seng Holdings Pte Ltd through its subsidiary, Scott & English Limited, to acquire and own the service rig.
Offshore Energy Today Staff, August 29, 2013