Expanding fleet: Why Ezion Holdings may gather USD269 million in contracts

The ships are off to the North Sea.

According to a press release, offshore company Ezion Holdings announced earlier today that it has secured a contract to provide a service rig over a 7-year period to support an East European-based national oil major in the North Sea. The contract, worth USD122.6 million, is expected to deploy the service rig by 2Q15.

Meanwhile, the company received a letter of intent with a contract value of up to approximately USD146 million over a 5-year period including extension options to provide a service rig to be used by a Southeast Asian based national oil company to support its oil and gas activities.

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