Ezion wins $111 million rig-chartering deal

OFFSHORE marine group Ezion has won a chartering contract worth US$87.6 million (S$110.9 million) over three years.

It will provide a jack-up rig to an unidentified South Asian based national oil company.

The rig will be deployed in the Arabian Sea in South Asia by early 2015.

It is expected to be refurbished and upgraded prior to the deployment.

Ezion said the deal is not expected to have a material impact on its earnings per share or net tangible assets per share for the current financial year ending Dec 31.

Ezion's shares added five cents to close at $2.22 on Tuesday. It announced the new contract after markets closed