The Subsea Services division of EMAS (EMAS AMC), the operating brand of Ezra Holdings, secured projects worth approximately USD 80M, including options. The scope of these projects cover a large spectrum of subsea work, including the decommissioning and towage of an FPSO in Asia and the deployment of an Inspection, Maintenance and Repair (IMR) vessel in the Americas. Work for a majority of the contracts is expected to commence by the first half of 2014.
“We are extremely pleased with these contract wins, which allows us to showcase the breadth of capabilities that EMAS AMC possesses as well as our global reach”, said EMAS’s Group CEO and Managing Director, Lionel Lee. “ We are seeing a good pick up of activities in the key regions where we are focused on, and we are well-positioned to take advantage of the upturn in 2014.”
The Group began the year with strong top-line growth with operational profitability, registering a 22% jump to USD 339.8M in revenue compared to the corresponding period in FY13.