Exxon Tries to Put the Worst Behind it With $20 Billion Writedown
By Jennifer Hiller HOUSTON, Nov 30 (Reuters) – Exxon Mobil Corp on Monday said it would write down the value of natural gas properties by $17 billion to $20 billion,...
Offshore/subsea contractor EMAS notes today that their year is off to a strong start so far with 22 percent high revenue than last year’s corresponding period. The Subsea Services division (EMAS AMC) has just been awarded US $80 million in contracts, however that is only the tip of the iceberg as they are still tendering for some USD $9 billion in projects worldwide.
The scope of this latest project just awarded includes 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, Mr Lionel Lee.
“It is an auspicious start to the new year. 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.”
In addition, EMAS AMC’s newbuild flagship vessel, the Lewek Constellation arrived quayside this week at Huisman China where she will be equipped (and become operational) with a Huisman designed and built 3000 mt Offshore Mast Crane, installed by Huisman’s 2400mt Skyhook crane with Super Ballast System. She will set sail to the Huisman Schiedam quayside later this year for the Installation and Commissioning of the Huisman designed and built 800mt Pipelay tower and equipment.
She will soon be beginning operations with VAALCO at their Etame Marin Field Expansion Project in West Africa.
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