The deepwater subsea services arm (EMAS AMC) of Ezra Holdings Limited, a leading integrated support and marine services provider in the offshore oil & gas (O&G) sector, is racing off to a promising start as the new year unfolds with the completion of Ezra’s acquisition of Aker Marine Contractors AS (AMC) and the award of a new contract from Norway’s Statoil estimated at approximately US$41 million.
Ezra, which operates in the offshore market under the EMAS brand name, successfully completed the acquisition of AMC from Aker Solutions AS (a subsidiary of Aker Solutions ASA) on 1 March 2011. With the established SURF (subsea umbilicals, risers & flowlines) and floater installation company AMC under its fold, Ezra’s EMAS AMC now has a comprehensive offering that includes the installation of subsea/SURF products and equipment, and the provision of EPIC (Engineering, Procurement, Installation & Construction) solutions globally.
The Group's Managing Director, Mr Lionel Lee, said: "Our ability to provide comprehensive and innovative SURF and EPIC solutions at all water depths is now widely recognised by the industry. In this respect, we are pleased to announce that EMAS AMC has won yet another major contract, from one of the world’s premier energy companies, Statoil."
The EPIC project with Statoil, an internationally renowned energy company, is worth approximately US$41 million and will involve EMAS AMC supplying and installing 55km of power cables along with associated terminations and ancillaries for the Gudrun field in the North Sea. State-of-the-art multipurpose construction vessel, AMC Connector, will be used for this project when it commences in the third quarter of 2013.
The Statoil award is in addition to existing contracts EMAS AMC has under its belt with MODEC Offshore Production Systems (Singapore) Pte Ltd. (MODEC) and ABB which were announced early this year by Aker Solutions on behalf of AMC.
The scope of work for the US$30 million mooring installation contract with MODEC, which specialises in the engineering, procurement, construction and installation of floating production systems, includes the hook-up of an FPSO (floating production, storage & offloading) vessel for the PSVM (Plutão, Saturno, Vênus and Marte) field located off the shores of Angola in Africa. Under the US$12 million contract from ABB, EMAS AMC will install 106km of subsea power cables for the Goliat field in the Barents Sea, located north of Norway and Russia.
Looking ahead, Mr Lee commented: "Given the bright outlook for the offshore O&G sector, we expect subsea activities to intensify. We also expect to provide an expanded range of services as clients move to boost operating efficiency as well as keep pace with new industry standards for crew safety and environmental protection. EMAS AMC is now a clear contender for such projects globally, backed by AMC's sterling reputation in this area and Ezra's entrenched EMAS brand. We are confident of building a solid order backlog that will optimise utilisation of our fleet and other assets."