EMAS’s subsea construction division EMAS AMC wins new Statoil contract in the North Sea

SINGAPORE, 5 March 2012 - EMAS, a leading global offshore contractor and provider of integrated offshore solutions to the oil and gas (O&G) industry and operating brand for Ezra Holdings Limited (Ezra or the Group, 以斯拉控股), today announces that its subsea construction division, EMAS AMC, has been awarded a SURF (Subsea, Umbilical, Risers and Flowlines) contract for marine installation and pipe lay from Statoil valued at approximately US$55 million.

The subsea development, Fram H-Nord, is situated in the Troll C/Fram area in the northern part of the North Sea.

“We are very pleased to be awarded this contract from Statoil as it’s a major milestone for EMAS AMC. This demonstrates our abilities as an EPIC SURF player, and our capability for delivering complex projects,” says Svein Haug Regional Head for EMAS AMC (Europe and Africa).

The Fram H Nord subsea development is the third phase of the development of the Fram Field which is tied back to the Troll C Platform. Fram H-Nord will be developed with one satellite well tied back to the existing infrastructure at Fram Vest A2 template via twin flowlines and a control and service umbilical.

The contract scope includes the engineering, procurement, transport and installation of one 10” flexible production and one 4” gas injection flowline both 5.3 km long as well as all activities necessary for the installation of the following:

• Integrated Template Structure & Manifold
• Subsea Control Umbilical (5.3 km long)
• Near-by Protection Structures
• Tie-ins of all lines to the Fram H Nord and Fram Vest A2 manifolds plus pre-commissioning/testing (RFO)
• Trenching and rock dumping of all line systems
• In addition the supply and installation of protection covers over tie-in areas at Fram H Nord and Fram Vest A2 templates.

Engineering, procurement and planning activities will commence immediately, and the offshore work is scheduled to commence in the third quarter of 2013. Vessels from EMAS AMCs modern construction fleet will be utilized. The contract will be managed out of EMAS AMC’s Oslo office.

FOR INVESTOR OR ANALYST ENQUIRIES

EMAS
Mr Tay Chin Kwang, +65 9877 8881
chinkwang@emas.com

OAKTREE ADVISERS
Ms Nora Cheng, +65 9634 7450
noracheng@oaktreeadvisers.com
FOR MEDIA ENQUIRIES

EMAS
Mr Alex Tan, +65 9841 0392
alex.tan@emas.com

EMAS OSLO
Ms Helene Løken, +47 41 66 33 64
helene.loken@emas.com

EMAS Houston
Ms Jeanne Righter, +1 832 487 7307
jeanne.righter@emas.com

PELHAM BELL POTTINGER ASIA
Mr Matthew Law, +65 6333 3449
mlaw@pbp.asia

About EMAS
EMAS, a recognised leading global offshore contractor providing construction, marine, production and well intervention services, is the operating brand of Singapore listed Ezra Holdings Limited (以斯拉控股) and Oslo listed EOC Limited. EMAS specialises in delivering best-value solutions and has become a powerful alternative in the oil and gas (O&G) industry by combining a customised approach along with a widely diverse offering of assets and services to meet clients' needs. EMAS operates globally with offices in 16 locations across five continents spanning Africa, the Americas, Asia Pacific and Europe.

The completion of the acquisition of Aker Marine Contractors AS in 2011 adds one of the world's leading SURF and floater installation providers with a history of renowned accomplishments to the Group. EMAS has four main business segments which together have the capability to execute a full spectrum of seabed-to-surface engineering, construction, marine and production services throughout the world. In addition, the Group offers fabrication, engineering, logistics and support services out of Vietnam though HCM Logistics Limited and yard facilities in Ho Chi Minh City and Vung Tau.

EMAS Production, under EOC Limited, owns and operates FPSO facilities. Its capabilities include FPSO conversion management and the operation & maintenance of production facilities. It possesses the capability and track record to design and provide FPSO/FSO Mooring & Riser Systems and Turrets, and Fluid Transfer Systems.