EMAS Offshore has announced a host of new deals today, made up of charters with an oil major In West Africa and independent oil company in Asia as well as additional extension options for an existing contract.
The West Africa contract is for the supply of a PSV, while in Asia an AHTS will be supplied for work including transportation of personnel, materials and supplies and to provide storage for materials
Captain Adarash Kumar, CEO of EMAS Offshore, commented: “We continue to focus our efforts in West Africa, where we have sustained our win momentum whilst building our track record and growth across Asia. Our strategy to focus our bidding activities in West Africa will allow us to increase penetration in this market whilst maintaining dominance in Asia amidst this muted oil and gas environment.”
Work is expected to commence on the new contract in the first quarter of next year, with an average duration of 2.4 years. The total contract value is more than $33m inclusive of options.
In its quarterly results released today, EMAS Offshore recored a net profit of $36.3m, up from $12.9m for the same period last year.