EMAS Offshore Limited (EMAS Offshore or the Group), an established Singapore-based offshore services provider offering offshore support, accommodation, construction and production services to the oil and gas industry, disclosed Tuesday that since the start of third quarter 2016 (3Q FY2016) beginning March 1, it has secured new awards and letter of intents for charters amounting to approximately $32 million, including options.
These new charters will see EMAS Offshore’s Anchor Handling Tug (AHT), Anchor Handling Tug and Supply (AHTS) and Platform Supply (PSV) vessels supporting National Oil companies (NOCs), International Oil companies (IOCs)” and other offshore contractors on drilling operations and cargo supply runs for offshore oil field projects in their production phases.
Concentrated in Malaysia, Thailand, Myanmar and Vietnam, these contracts also comprise of awards from the West Africa region.
Commenting on these recent contract wins, Captain Adarash Kumar, Chief Executive Officer of EMAS Offshore said: “Despite weakness in the offshore support sector and the ongoing volatility in oil prices, our team is working hard to keep utilization at a sustainable level. These contract wins are a testament to the team’s ongoing efforts as well as the strength of our offerings in Southeast Asia and West Africa. Moving forward, we aim to further improve utilization rates and operational efficiencies to tide us through this challenging period."
