EMAS AMC Bags $55 Mln in Contracts

Ezra’s subsea services division, EMAS AMC, has secured multiple new contracts from various oil and energy companies worth approximately US$55 million.

Scope of work includes project support, inspection, maintenance and repair (IMR), subsea removal work of pipelines and structures, installation of buoys and lifting of structures and mattresses, as well as a pre-FEED study.

According to the company, work has already started for several projects, with the others slated for offshore execution from the third quarter of 2015 onwards.

“Amidst the volatile oil price environment and current headwinds faced by the oil and gas industry, we continue to show resilience with contract wins across the globe. The spectrum of work also builds our global track record and demonstrates our subsea expertise and the capabilities of our project enabling assets,” said Lionel Lee, EMAS Group CEO and Managing Director.

EMAS AMC has secured a backlog of approximately US$1.0 billion, with a majority of the contracts expected to be executed over the next 24 months.

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