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17-06-2011, 06:16 AM
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Business Times - 17 Jun 2011
Ezion associate bags US$73m charter contract
Four-year deal comes from a European oil major
By CARINE LEE
EZION Holdings' 50:50 joint-venture company, Atlantic Labrador Pte Ltd, has secured a charter contract worth up to US$73 million over four years, to provide a North Sea Class accommodation jack-up rig for use by a European oil major.
The rig will support the European oil major's oil & gas activities in offshore Denmark.
Singapore-listed Ezion's joint venture partner in Atlantic Labrador is Treatmil Holdings Limited, a European-based offshore service company that provides specialised rig management services to the offshore oil & gas and wind industries' operators in the North Sea.
Ezion said that Atlantic will acquire, refurbish, upgrade and mobilise the upgraded accommodation jack-up rig to the North Sea before the end of FY2011.
In its announcement yesterday, Ezion said that Atlantic will have a paid-up capital of US$10 million.
Ezion said that it does not expect this transaction to have a material impact on the group's earning per share or net tangible assets per share for the financial year ending Dec 31, 2011.
Ezion is the owner of one of the largest multi-purpose self-propelled jack-up rigs in the world, used mainly for well-servicing, commissioning, maintenance and decommissioning of offshore platforms.
Its shares closed half a cent lower yesterday at 64.5 cents.
Business Times - 17 Jun 2011
Ezion associate bags US$73m charter contract
Four-year deal comes from a European oil major
By CARINE LEE
EZION Holdings' 50:50 joint-venture company, Atlantic Labrador Pte Ltd, has secured a charter contract worth up to US$73 million over four years, to provide a North Sea Class accommodation jack-up rig for use by a European oil major.
The rig will support the European oil major's oil & gas activities in offshore Denmark.
Singapore-listed Ezion's joint venture partner in Atlantic Labrador is Treatmil Holdings Limited, a European-based offshore service company that provides specialised rig management services to the offshore oil & gas and wind industries' operators in the North Sea.
Ezion said that Atlantic will acquire, refurbish, upgrade and mobilise the upgraded accommodation jack-up rig to the North Sea before the end of FY2011.
In its announcement yesterday, Ezion said that Atlantic will have a paid-up capital of US$10 million.
Ezion said that it does not expect this transaction to have a material impact on the group's earning per share or net tangible assets per share for the financial year ending Dec 31, 2011.
Ezion is the owner of one of the largest multi-purpose self-propelled jack-up rigs in the world, used mainly for well-servicing, commissioning, maintenance and decommissioning of offshore platforms.
Its shares closed half a cent lower yesterday at 64.5 cents.
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