Ezra subsea unit wins contracts worth about $137m

SINGAPORE - Integrated offshore solutions provider Ezra Holdings is seeing continued growth momentum from its subsea services unit.

It announced on Tuesday that EMAS AMC has been awarded several projects around the world worth nearly US$110 million (S$137 million), including options.

The projects include the transportation and installation of subsea structures in Africa as well as inspection, maintenance and repair work in the Gulf of Mexico.

The unit will also be embarking on support services for a deepwater project with an oil major in the Asia Pacific.

"I am very pleased and encouraged that EMAS AMC has continued its winning momentum globally," said Ezra's chief executive Mr Lionel Lee.

"This comes on the back of successive operationally profitable quarters and as our extensive global client base is steadily endorsing our subsea capabilities," he added.

Ezra recently announced that its revenue for the nine months in its current financial year had crossed the US$1 billion mark due to EMAS AMC's strong operational performance.

That in turn boosted its contribution to overall revenue with an additional US$200.6 million compared with the same period last year.