Ezra Holdings secures subsea projects worth about $102m

Offshore services provider Ezra Holdings said on Friday its subsea services division has clinched contracts worth almost US$80 million (S$102 million), including options.

The projects cover a wide range of subsea work, including the decommissioning and towage of a floating production, storage and offloading unit in Asia and the deployment of an inspection, maintenance and repair vessel in the Americas.

Work for most of the contracts is expected to start by the first half of this year, the Singapore-listed company said.

""It is an auspicious start to the new year," said Ezra's group chief executive and managing director Lionel Lee.

"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."

Ezra's subsea orderbook currently stands at more than US$1.4 billion. The company is tendering for some US$9 billion in projects worldwide.