(EnergyAsia, October 28, Wednesday) — Singapore’s EMS Energy Limited said its subsidiary, Engineering & Marine Services (Pte) Ltd, has secured a letter of intent (LOI) from Vietnam’s Hoang Long Joint Operating Company for the manufacture and supply of offshore pedestal cranes for use in an offshore oilfield in that country.
The first crane to be delivered for use in the Block 16-1 Te Giac Trang field development project with a delivery date of September 25, 2010 is valued at S$1.6 million. (US$1=S$1.4). The contract, with options for a second crane worth up to S$5 million, is expected to be signed at a later date, said EMS Energy, a Singapore Exchange Catalist-listed provider of engineering solutions for the marine, oil and gas industry.
The company supplies drilling and workover services, down hole drilling accessories, mechanical handling and moorings for anchor handling tugs supply vessels (AHTS), floating production storage and offloading (FPSO), pipe laying and construction vessels, and mobile offshore drilling units (MODU).
Its subsidiary, EMS Offshore Pte Ltd, recently bought a 60% stake in Oilfield Services and Supplies Pte Ltd (OSSPL), a Singapore-based manufacturer of downhole drilling tools, and provider of machining and drilling services for the oil, gas, and mining exploration industries in Southeast Asia and India.
OSSPL claims to have a 60% share of the global downhole drilling products market worth about US$10 million to US$15 million a year. The company has direct contracts with the world’s four leading directional drilling services companies, Schlumberger, Halliburton, Baker Hughes and Weatherford Precision Drilling.