Ezra Holdings Limited has entered into a shareholders agreement with three other partners to establish a joint venture company that will supply the Floating Production, Storage and Offloading Vessel (the “FPSO”) and related services to Premier Oil in respect of the Chim Sao project in Vietnam.

Ezra and the three other partners being EOC Limited (EOC), PetroVietnam Corporation and KSI Production Pte Ltd will participate in the joint venture through the provision of equity and/or shareholders’ loans subject to the terms and according to the conditions of the Shareholders’ Agreement.

In addition, Ezra will dispose of Lewek Emas, a 168,000 deadweight tonne Suzemax oil tanker, to the joint venture company for conversion into the FPSO for which it will receive redeemable cumulative preference shares.

Tags: Ezra Holdings Limited