(EnergyAsia, April 27, Friday) — Singapore’s Ezra Holdings Limited, a leading offshore support and marine services provider for the oil and gas industry, said subsidiary EOC Limited has awarded a contract to convert a tanker into a floating, production, storage and offloading (FPSO) vessel. EOC is 88%-owned by Singapore-listed Ezra.

 

EOC, which will be listed on the Oslo Stock Exchange, said wholly owned Emas Offshore Construction and Production, awarded Keppel Shipyard the contract to convert a 127,533MT shuttle tanker. The FPSO is due to be delivered in mid-2008.

 

“Ezra can see the possible hire of other vessels from our fleet and that of construction and production arm EOC, lending weight to our fully vertically integrated offshore support services model,” said Ezra’s managing director Lionel Lee.

 

Keppel Shipyard will carry out the overall project management and completion of the FPSO, including the fabrication and installation of flare tower, installation and integration of the topside modules.

 

Its sister yard, Subic Shipyard and Engineering Inc, will undertake repair and refurbishment works and part of the conversion, including bow modification for a mooring system, fabrication and installation of the helideck, pipe racks and module supports.

 

“This is just the start for EOC which is moving fast to boost growth by acquiring a heavy lift accommodation and pipelaying vessel, two heavy lift accommodation crane barges, and potentially another FPSO within 18 months,” said Mr Lee.

 

On April 23, Ezra announced it would be listing EOC, its production and construction division, on the OTC of the Oslo Stock Exchange, to raise around US$43.3 million through a private placement.