EMAS, the operating brand of Ezra Holdings, a leading global offshore contractor and provider of integrated offshore solutions to the oil and gas (O&G) industry, today celebrates its 20th Anniversary in the global offshore industry. This year has been an important year for EMAS as it begins to see fruition in its long term strategy, with total revenue now up to US$1 billion.
While both offshore support and the marine services division maintained revenue contribution in FY2012, the key contribution came from the subsea construction division reflecting EMAS’ confidence in the industry’s growing demand for subsea services.
To commemorate 20 years of achievement, EMAS will host a half-day conference on the past, present and future of the industry and a gala dinner for all stakeholders at the newly-built Gardens by the Bay later in the evening.
Guest-of-Honour for the evening’s Gala dinner is Mr. Tharman Shanmugaratnam, Deputy Prime Minister & Finance Minister of Singapore.
Deputy Prime Minister said: “Local companies that are globally-competitive are important to Singapore. They fly our flag high by competing internationally, and taking advantage of growing opportunities in high value-added, niche markets. EMAS is a good example – it has built up a presence in five continents and strong recognition for its technological know-how, including in the challenging area of deepwater engineering and construction.”
EMAS’ inaugural 20th Anniversary Celebratory Conference at Shangri-La Hotel Singapore will bring together thought leaders in areas of keeping ahead with emerging O&G markets and technology. World renowned expert of the subsea industry, Professor Andrew Palmer, will share about new breakthroughs in pipelay and welding technology, and urged for a greater sense of urgency to embrace new technological advancements.
Professor Palmer said: “I am extremely positive about the future of the sector. There are many exciting current developments, notably offshore Brazil and in SE Asia, and new technical challenges: pre-salt, subsea processing, Arctic, working from the seabed rather than from platforms, subsea shale gas, and many others. In this respect, EMAS is well-positioned to be a promising star.”
Developing new technologies in subsea and offshore production, and horizontal integration of key assets in marine engineering have remained important pillars in the EMAS’ expansion strategy. EMAS has delivered a fleet of state-of-the-art offshore installation and subsea construction vessels along with world-class engineering capabilities under its subsea construction arm, EMAS AMC.
Recently EMAS AMC expanded its modern fleet by securing exclusive charters for two additional strategic construction assets, a dynamically positioned (DP) dual reeled-lay vessel and a DP S-Lay vessel, whose onboard pipe welding, testing and storage capabilities allow it to efficiently lay conventional and deepwater pipe up to 30 inches in diameter. In addition the subsea services division will take delivery of the Lewek Constellation, an ice-classed high end multi-lay vessel with portable reels on deck. These vessels are expected to enter operations from early 2013 to mid-2014.
With the successful integration of its subsea operations held under the EMAS AMC, acquired in March 2011, EMAS has seen a 76% increase in revenue from US$559.1 million in the previous year to US$984.2 million this year. The subsea services division trebled its turnover to US$551.6 million in FY12 from US$179.5 million the year before.
EMAS’s Managing Director, Mr Lionel Lee (黎才德), said: “This is a special occasion and marks a new chapter for EMAS. For the last twenty years, we have built a strong foundation that has made us a front runner on today’s global stage. EMAS is now a global engineering and construction company for the oil and gas industry, particularly for the subsea sector. Our 20th Anniversary is even sweeter with the fact that the company has almost reached the billion-dollar mark in revenue for the first time in our history. I look forward to the opportunities ahead.”
[mappress] Press Release, November 08, 2012