Ezra's EOC delivery of FPSO on schedule

EOC Ltd. is on schedule to take delivery of its first FPSO.

Offshore staff

SINGAPORE -- EOC Ltd. is on schedule to take delivery of its first FPSO.

Originally an Aframax tanker before its conversion at Keppel Shipyard, the converted 140,589 dwtLewek Arunothai can export 175 MMcf /d (4.96 MMcm/d) of natural gas, ranking it amongst the largest gas FPSOs operating in the world, says Ezra.

It has helped EOC to gain a $400-million charter contract with a Southeast Asian oil company for the Gulf of Thailand.

"This three-year contract with an extension option for two years is expected to add positively to our bottomline from fiscal year 2009," said Lionel Lee, Ezra managing director. "As record-high oil and natural gas prices galvanize efforts to explore for and develop more reserves around the globe, we expect the FPSO market to stay buoyant and provide another wave of growth for the company."

Ezra currently manages 32 vessels and has nine more scheduled to come into service by 2010.

06/24/2008

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