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    Ezra confirms order for additional deepwater multi-function vessel

    Vessel & ROV News // September 20, 2007

    Ezra Holdings Limited has confirmed that it has awarded a contract worth approximately S$162.4 million for the design and construction of a large 27,000bhp Multi-Functional Support Vessel (MFSV) to Karmsund Maritime Service AS in Norway.

    The contract value includes the cost of sophisticated equipment as well as integrated features such as an ROV hangar and foundations for a heave-compensated offshore crane and A-Frame which allow the vessel to provide subsea support services.

    The MFSV will also be built to meet the stringent requirements of 'Clean Design' notation for operations in the North Sea, including Norway.

    Said Ezra's Managing Director Lionel Lee: "This latest newbuild is in line with our strategy to strengthen our position as an integrated support services provider to the buoyant offshore oil and gas sector in the North Sea, South America and West African markets.”

    “In order for the Group to tap meaningfully into the growth potential of these markets, we intend to expand our fleet of large, well-equipped multi-functional support vessels to complement and enhance the services provided by EOC Limited, our soon-to-be Oslo-listed production and construction arm,” added Mr Lee.

    When delivered in the first quarter of 2010, this latest MFSV will join Ezra’s two 30,000bhp, deepwater multi-functional support vessels which were ordered in May and scheduled for delivery in 2009 and 2010.

    “These large vessels will form the Group’s special task force to meet the high, yet varied technical and engineering needs of mid and deepwater offshore support services and subsea support work. Together with EOC, these vessels are expected to drive Ezra’s growth in the medium to long term,” explained Mr Lee.

    The MFSV will be equipped for various offshore duties such as: offshore construction; subsea installation; ROV interventions; installation, maintenance and repair; deepwater anchor handling in depths up to 5,000m; towing; supply runs; standby and rescue; and tanker assistance.

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