Ezra Holding’s owned EOC Limited (EOC), has secured its first contract with Hess E&P Malaysia for the charter of the Group’s Floating, Production, Storage and Offloading (FPSO) vessel, the Lewek Arunothai.
The Letter of Award will deploy the FPSO Lewek Arunothai, on a three-year fast-track gas production project in the North Malay Basin, Malaysia. The FPSO will be used to support early production activities and is targeted to be on station from mid-2013.
The value of the three years long contract is estimated at $272.1 million with the potential of another US$271.1 million should the full extension of three years be exercised.
Lionel Lee , Group Managing Director of Ezra , said: “We are delighted that Hess has given us this vote of confidence. This win is proof of our competitiveness in the offshore production business in Asia. For EOC, this award will improve its earnings visibility and expand its client base.”
[mappress] November 14, 2012