Ezra Wins $110m Deepwater Brazilian Contract

Ezra Holdings Limited today announced that the Group’s wholly owned subsidiary London Marine Consultants (LMC), Ezra’s Floating Production, Storage and Offloading (FPSO) Turret Design outfit has been awarded a contract by Sembcorp Marine’s subsidiary Jurong Shipyard of Singapore, to supply an external turret mooring system for the Libra field’s Extended Well Test (EWT) FPSO vessel.

The Libra oil field is a large, ultra-deepwater (up to 2,500metres) oil prospect located in the Santos Basin, about 230 kilometres off the coast of Rio de Janeiro, Brazil, north of Tupi field. The oil field estimated to contain recoverable resources ranging between eight billion to 12 billion barrels of oil and is one of the largest deepwater oil accumulations globally.

OOGTK Libra GmbH & Co KG, a joint venture between Brazil’s Odebrecht Oil & Gas and Teekay Offshore, awarded a contract to Jurong Shipyard for conversion of the Navion Norvegia shuttle tanker to form the Libra EWT FPSO. This joint venture company will own and operate the FPSO, chartering it to Petrobras for twelve years, excluding options.

LMC scope of supply includes engineering, procurement and construction (EPC) of the complete external turret. LMC will also design the mooring lines, analyse the risers and provide engineering support for integration of the turret and swivel stack onto the FPSO at Jurong Shipyard.

“This contract highlights our diverse capabilities in the offshore oil and gas industry. We acquired LMC back in 2008 to enhance our engineering capabilities for the offshore oil and gas value chain, and this has enabled more business opportunities for us,” commented Mr Lionel Lee, CEO and Managing Director of Ezra Holdings Limited.

“We are very excited about this opportunity to work with Jurong Shipyard, OneSubsea, OOGTK and, of course, Petrobras on this very important project.”

Engineering and project management are currently underway in the Group’s London office, with turret fabrication planned at TRIYARDS in Vietnam, another subsidiary of Ezra Holdings. Under a sub-contract from LMC, OneSubsea will manufacture an advanced swivel stack in Norway, with six swivels, including two high pressure (550 bar) gas injection swivels, in time for integration of the complete turret onto the FPSO in 1Q2016.