EOC Limited (EOC or the Group) strengthened its lead amongst the top players in Asia’s offshore oil & gas construction and production sector with its latest contract that is worth up to US$68m with extension options exercised.

The contract was awarded to EOC’s wholly-owned Emas Offshore Construction and Production Pte Ltd. Under the terms of the contract, the Group’s heavy lift accommodation crane barge, the Lewek Conqueror, provide offshore accommodation and construction support to one of the world’s largest oil exploration and production companies operating in Brunei.

The Lewek Conqueror is expected to commence work in March of 2009. Said Mr Lim Kwee Keong, EOC’s Chief Executive Officer, “This contract with the global oil major in Brunei underlines EOC’s competence in the offshore production & construction segment and entrenches our position as a leading operator in the sector. “We expect demand for our offshore construction and production services to remain firm and that the charter will contribute positively to earnings from 2H FY09¨

EOC, which is 48.9% held by SGX mainboard-listed Ezra Holdings Ltd, manages one other heavy-lift accommodation crane barge, the Lewek Chancellor, a dynamically positioned heavy-lift accommodation pipelay vessel, the Lewek Champion, and a floating production, storage and offloading unit, the Lewek Arunotha”.

Tags: EOC Limited