UPDATE ON CONTRACTS SECURED BY EMAS OFFSHORE
- Contract awards mostly centred in EMAS Offshore’s established presence in Southeast Asia and West Africa
EMAS Offshore Limited (“EMAS Offshore”, and together with its subsidiaries, the “Group”), announced today that it has secured new contracts for charters amounting to approximately US$93 million including options if exercised. While US$61 million was awarded during the period from 1 September 2016 to 30 November 2016 (“Q1FY2017”), the remaining US$32 million worth of contracts were awarded during Q4FY2016 which resulted in the total charters awarded during FY2016 to approximately US$97 million.
These new charters will see EMAS Offshore’s Anchor Handling Tug (“AHT”), Anchor Handling Tug and Supply (“AHTS”) and Platform Supply (“PSV”) vessels supporting national oil companies, international oil companies and oil majors on various projects in Southeast Asia, India and West Africa of various contract durations from less than a month to 3 years firmed.
Commenting on the contract wins, Captain Adarash Kumar, Chief Executive Officer of EMAS Offshore said, “While the Group has been able to secure contracts, we expect the market environment to remain challenging. While we are expanding our presence in West Africa, Asia Pacific will still remain our main market. We remain committed to maintaining our rate of vessel utilisation."
ABOUT THE COMPANY
www.emasoffshore.com
Oslo Børs listing: October 2007 ; SGX Mainboard listing: October 2014
EMAS Offshore Limited (EMAS Offshore or the Company) is an established offshore services provider offering offshore support, accommodation, construction and production services to customers in the oil and gas industry throughout the oilfield lifecycle, spanning exploration, development, production and decommissioning stages. Headquartered in Singapore, EMAS Offshore holds a leading market position in the Asia Pacific region, with global operations across Latin America, Africa and Australia.
Business activities are carried out by two business segments, namely: (1) the Offshore Support and Accommodation Services division and (2) the Offshore Production Services division.
EMAS Offshore’s excellent operational and HSE (health, safety and environment) track record has allowed the Company to establish strong working relationships with leading international oil majors, national oil companies and various independent operators.
FOR FURTHER ENQUIRIES
Mr. Hsu Chong Pin
EMAS Offshore Limited
65 6800 1202
investor_relations@emasoffshore-cnp.com