Ezra Holdings and EMAS Offshore Production Service (EOPS), a fully owned subsidiary of EMAS, and Ezra, have today entered into a agreement with PetroFirst Infrastructure for the sale of a combined equity share of 80 per cent in PV Keez.
PV Keez is incorporated in Singapore and owns FPSO “Lewek EMAS”, which is chartered to Premier Oil Vietnam Offshore as operator of the Chim Sao field offshore southern Vietnam.
PetroFirst Infrastructure is a joint venture private company between First Reserve, a private equity and energy infrastructure investment firm focused exclusively on energy, and Petrofac.
Under the agreement, EOPS has agreed to sell its common equity interest of approximately 41.7 per cent in PV Keez, whereas Ezra has agreed to sell a common equity interest of approximately 38.3 per cent, as well as its entire stake in the redeemable cumulative preference shares of the same company.
Based on the agreement the combined aggregate consideration payable by PetroFirst is approximately US $166 million.