EMAS AMC Signs New Subsea IRM Contracts

Global subsea EPCIC contractor EMAS AMC, a subsidiary of Ezra Holdings, reports today new contracts worth upwards of $55 million to support the inspection, maintenance and repair (IMR), subsea removal work of pipelines and structures, installation of buoys and lifting of structures and mattresses at an undisclosed project.

The contracts also include a pre-FEED study, the company says.

“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 Mr Lionel Lee, Ezra’s Group CEO and Managing Director.

Ezra Holdings says their current backlog stands at approximately US$2.3 billion, with a majority of the contracts expected to be executed over the next 24 months. So far this year, the company has won approximately US$550 million in new projects.

Ezra Holdings’ backlog is inclusive of a backlog of US$491 million from the two FPSOs, Lewek EMAS and Perisai Kamelia that EMAS Offshore Limited has stakes in.