EMAS AMC wins $88 million subsea contract from Noble Energy

Singapore-based Ezra Holdings reports that its deepwater subsea services division EMAS AMC unit has secured a contract worth an estimated $88 million  from Noble Energy. It will see EMAS AMC install approximately 330 km of umbilicals and subsea equipment, as well as deliver subsea suction piles and jumpers, for the Tamar development in the Mediterranean Sea (Tamar Project).

The umbilicals and subsea distribution equipment for the Tamar Project are being manufactured by the Aker Solutions Group at its plant in Mobile, Alabama. Ezra and Aker Solutions AS have entered into a five-year cooperation agreement in connection with the acquisition of Aker Marine Contractors AS (completed on March 1, 2011) and the Tamar Project is an example of a bundled solution for subsea equipment.   

Mr. Lionel Lee the Managing Director of EMAS said: “The Tamar Project positions us as a key contender in the global subsea and offshore services arena. This latest subsea contract has increased our total order book to more than $250 million. The pace at which this has been built up demonstrates not only how robustly demand is growing in the industry, but also how readily clients have come to rely on EMAS’ established capabilities to provide comprehensive and innovative subsea solutions that fit their needs and meet their expectations.”

“We see a rapid acceleration of global exploration and production spending and increase in subsea orders. EMAS AMC is in a strong position to bid for and secure more complex subsea construction projects as a result of the combination of our engineering and project execution capabilities and access to one of the very few state-of-the-art multipurpose construction vessels such as the AMC Connector,” he added.

In addition to the subsea contract for the Tamar Project, EMAS has also secured a letter of award/intent for a project worth up to approximately $32 million from an international oil major to provide subsea support services in connection with the client’s maintenance activities for a floating storage facility in Africa.  

“Our progress in Africa illustrates the potential of our strategy to provide integrated solutions – we expect more projects where EMAS can participate to provide a complete range of services from subsea and offshore support to subsea construction services for O&G projects” concluded Mr. Lee.

April 14, 2011