Emas Reels in $32m Contract
By Aiswarya Lakshmi
Wednesday, May 11, 2016
Singapore-listed offshore firm EMAS Offshore Limited wins $32m of new business has secured new awards and letter of intents for charters amounting to approximately US$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 utilisation at a sustainable level."
He added: "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 utilisation rates and operational efficiencies to tide us through this challenging period."