EMAS, leading integrated support and marine services provider in the offshore oil and gas (O&G) sector and operating brand for Ezra Holdings Limited, secures new subsea and offshore services contracts from the world’s top energy companies.
The project from Noble Energy, a leading independent international player in the O&G sector, is estimated at approximately US$88 million. Under this contract, EMAS' deepwater subsea services division (EMAS AMC) will install approximately 330km of umbilicals and subsea equipment, as well as deliver subsea suction piles and jumpers, for the Tamar development in the Mediterranean Sea (Tamar Project). The Tamar Project is expected to commence in the second quarter of 2012 (2Q12).
The umbilicals and subsea distribution equipment for the Tamar Project are being manufactured by the Aker Solutions Group at its well-equipped and modern plant in Mobile, Alabama in the United States. Ezra and Aker Solutions AS have entered into a five-year cooperation agreement in connection with the acquisition of Aker Marine Contractors AS (completed on 1 March 2011) and the Tamar Project is an example of a bundled solution for subsea equipment.
Mr Lionel Lee, the Managing Director of EMAS said: "The Tamar Project positions us as a key contender in the global subsea and offshore services arena. This latest subsea contract has increased our total order book to more than US$250 million. The pace at which this has been built up demonstrates not only how robustly demand is growing in the industry, but also how readily clients have come to rely on EMAS’ established capabilities to provide comprehensive and innovative subsea solutions that fit their needs and meet their expectations."
"We see a rapid acceleration of global exploration and production spending and increase in subsea orders. EMAS AMC is in a strong position to bid for and secure more complex subsea construction projects as a result of the combination of our engineering and project execution capabilities and access to one of the very few state-of-the-art multipurpose construction vessels such as the AMC Connector," he added.
In addition to the subsea contract for the Tamar Project, EMAS has also secured a letter of award/intent for a project worth up to approximately US$32 million from an international oil major to provide subsea support services in connection with the client's maintenance activities for a floating storage facility in Africa.
"Our progress in Africa illustrates the potential of our strategy to provide integrated solutions – we expect more projects where EMAS can participate to provide a complete range of services from subsea and offshore support to subsea construction services for O&G projects," concluded Mr Lee.
Recent Contract Wins
- US$41 million contract with Norway Statoil: Early this year, EMAS AMC secured an EPIC (engineering, procurement, installation & construction) contract worth approximately US$41 million with Norway's Statoil. To start in 3Q13, this project will utilise the capabilities of the AMC Connector which will be jointly owned by Ezra and Aker Solutions AS.
- NOK500 million contract with ABB: Upon delivery (expected in early 2012), the AMC Connector will be chartered to ABB, a premier global provider of power and automation technologies. As previously announced by Aker Solutions AS, the contract is worth an estimated NOK500 million during its deployment in 2012 and 2013, with options for ABB to extend the charter for a period of up to three years.
- US$30 million contract with MODEC: EMAS AMC also recently won a US$30 million mooring installation contract with MODEC Offshore Productions Systems (Singapore) Pte Ltd., which specialises in the engineering, procurement, construction and installation of production systems. In addition, another ABB project was secured, worth US$12 million, to install subsea power cables for the Goliat field in the Barents Sea. These two contracts were announced by Aker Solutions AS on behalf of Aker Marine Contractors AS (AMC).