Ezion wins $82m service rig deal

Singapore: Offshore firm Ezion Holdings Limited has received a letter of intent from a Southeast Asian national oil company to support its oil and gas activities with the provision of a service rig for a five year period.

The contract is valued at $82.1m over the five years, and Ezion will be ordering a new build rig to add to its current fleet in order to meet the deadline to begin service in the first quarter of 2015.

Ezion’s investors include the Singapore government’s Economic Development Board and former Labroy founder Tan Boy Tee, who both bought significant holdings in the company late last year. [18/07/13]

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