SINGAPORE--(BUSINESS WIRE)--Regulatory News:
EOC Limited (“EOC” or “the Group”), one of Asia’s leading providers of offshore oil and gas development and production solutions, today announced that it would be adding two new accommodation/maintenance vessels to its fleet, in line with its focus on growing its offshore accommodation business.
EOC has entered into shipbuilding contracts worth a total of approximately US$72 million with Xiamen Shipbuilding Industry Co., Ltd. a shipyard based in Xiamen, China, for the two accommodation/maintenance vessels, with options for a further two similar specification vessels. The shipbuilding contract price does not include owner furnished and nominated equipment.
On 10 July 2014, the Group announced that it had entered into an agreement with its largest shareholder, Ezra Holdings Limited (“Ezra”) to consolidate EMAS Marine, Ezra’s offshore support services division, under the Group, to create one of the largest offshore support services providers in the Asia-Pacific region by asset value, as well as a proposed secondary listing of EOC in Singapore. In addition, the Group also announced the acquisition of an accommodation and support vessel on the same date.
The addition of these two new accommodation vessels is in line with the Group’s strategy to continue to grow its fleet and build on its platform as one of the largest offshore accommodation and support services providers in the region.
ABOUT THE COMPANY
Oslo Børs listing: October 2007
EOC Limited is a provider of offshore accommodation, construction and production vessels and services. The Group is headquartered in Singapore and operates across key markets in the Asia-Pacific region, such as Brunei, Indonesia, Malaysia, Vietnam and Thailand.
The Group operates accommodation and/or construction units and floating production, storage and offloading (“FPSO”) systems and its excellent operational and HSE (health, safety and environment) track record has allowed it to establish strong working relationships with leading international oil majors, national oil companies and various independent operators.
The Group is an associate company of Singapore Exchange-listed Ezra Holdings Limited, a leading global offshore contractor and provider of integrated offshore solutions to the O&G industry.
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