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Ezion Secures Approx $35M Service Rig Deal in Middle East

Source: www.gulfoilandgas.com 4/15/2014, Location: Asia

The Board of Directors of Ezion Holdings Limited is pleased to announce that it has secured a charter contract with a value of approximately USD 35 million over a 3 year period to provide a service rig (Service Rig) to be used by a Middle Eastern state-linked company to support its oil & gas activities in the Arabian Gulf.

The Service Rig is expected to be deployed and working in the offshore oil & gas fields in the Arabian Gulf by 1H 2015 after its refurbishment and upgrading. The abovementioned charter is not expected to have a material impact on the Groupís earnings per share or net tangible assets per share for the financial year ending 31st December 2014.

None of the Directors or substantial shareholders of the Company has any interest, directly or indirectly, in the abovementioned transactions, save for their shareholdings in the Company.

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Related Categories: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 

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