Ezion Holdings Limited, based in Singapore, in a joint venture (“JV”) with Kim Seng Holdings Pte Ltd has secured a contracts worth up to USD 298 million from “a national oil major in Mexico.”
Under the agreements, the JV will provide 2 Service Rigs over a 7 year period to support the oil & gas activities of the Mexican oil firm.
The contracts for the rigs which will be deployed in the Bay of Campeche are expected to start in the first quarter of 2013.
The JV will acquire and own 2 Service Rigs to meet the requirements of the contracts upon the finalization of the definitive sale and purchase agreements.
Ezion said that the acquisitions will be funded through internal resources and also through bank loans.
[mappress] November 6, 2012