EOCP successfully executes another demanding offshore installation contract
- EOC subsidiary completes task on time and without lost time incidents
- Adds to Group’s track record for deep water offshore installation work
- Expects fleet to be fully deployed as offshore oilfields move quickly into production phase
Singapore, 15th April 2008 – EOC Limited (‘EOC’ or ‘the Group’), one of Asia’s largest and most dynamic offshore construction & production contractors, announced that its wholly-owned subsidiary, Emas Offshore Construction and Production Pte Ltd (’EOCP’) has successfully executed the offshore installation contract to install sub-sea facilities and floating production mooring system in the Galoc Field located 65 km north-west of Palawan Island in the Philippines.
Said Mr Lim Kwee Keong, EOC’s CEO: “This achievement adds to EOC’s track record of successful offshore projects which require a high level of technical and project management capability. ”
“The Galoc Field contract is particularly noteworthy because it involved the installation of over 1,200 tonnes of equipment on the seabed in a water depth of 290 metres whilst being dynamically positioned. We completed the project within schedule and without a single lost time incident. The success of the project is largely due to the shared goals and seamless cooperation at all levels between EOCP and GPC. ” added Mr Lim.
EOCP was contracted by The Galoc Production Company W.L.L. (‘GPC’) to install sub-sea facilities and floating production mooring system in the Galoc Field in August 2007. Field operator GPC has a 58% participating interest in the Galoc Field.
The contract was executed by Lewek Champion, EOC’s first heavy-lift, accommodation and pipe-lay vessel which is equipped with a Class DP2 Dynamically Positioning system, an 800-tonne heavy-lift crane and can accommodate approximately 500 men. The vessel is purpose-built for deep-water construction, pipe laying and accommodation support work.
Mr Lim expects the project to contribute positively to EOC’s FY2008 earnings. He added: “There is strong demand for offshore construction services. The strong demand is driven by offshore oilfields moving quickly into the production phase and this will keep our vessels well deployed over the medium to long term.”
In January, the Lewek Champion successfully completed the installation of jackets, topsides, pipelines and FPSO moorings for a platform located in the Bualuang Field in the Gulf of Thailand. This contract was awarded by Green Fields International.
The Lewek Champion is currently busy with several prominent projects, including a key role in a US$148 million joint transport & installation contract with a Malaysian offshore oil & gas group in the Malaysian-Thai Joint Development Area in the Gulf of Thailand.