EMAS Wins $55 Million Subsea Installation Contract at Statoil’s Fram Field

SINGAPORE (Dow Jones)–Ezra Holdings Ltd. (5DN.SG) said Monday its subsea construction division, EMAS AMC, has won a contract from Statoil (STL.OS) worth about US$55 million.

The company, an offshore and subsea services provider, said in a filing with the Singapore Exchange that the contract was for marine installation and pipe lay at the Fram H-Nord development in the North Sea, the third phase of the development of the Fram Field which is tied back to the Troll C Platform.

Engineering, procurement and planning activities will commence immediately and the work is set to commence in the third quarter of 2013, the company said.

-By Matthew Allen, Dow Jones Newswires