Ezra's subsea division sealed US$75m deal with Statoil

Project to last through 2015.

Ezra Holdings Limited announced that its subsea division, EMAS AMC, has been awarded a subsea engineering, procurement and offshore construction contract from Statoil for the Smørbukk South Extension’s project. The contract is valued at approximately US$75 million.

Mr Lionel Lee, Managing Director of Ezra Holdings, said: “We have been investing heavily in building up our global engineering expertise as well as technologically advanced and game-changing assets. This has borne fruit and I am extremely pleased with this latest win by Ezra. It demonstrates an ever growing confidence in our project execution capabilities and validates Ezra’s global subsea strategy.”

Discovered in 1985, the Smørbukk South Extension holds estimated recoverable reserves of 16.5 million barrels of oil equivalent, and will be developed with a new subsea template connected to existing infrastructure in the area.

The contract scope includes the engineering, procurement, construction and installation of flexible flowlines, tie-in spools, manifold and umbilical as well as associated abandonment and removal activities.

Offshore activities will commence in Q2 2014 and the project is expected to last through 2015. The contract will be managed out of EMAS AMC’s Oslo office.

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