EMAS secures $80m subsea projects

EMAS AMC will decommission and tow a floating production, storage and offloading (FPSO) unit in Asia and deploy an inspection, maintenance and repair (IMR) vessel in the Americas.


Work on the projects is expected to commence by the first half of 2014. The contracts are worth approximately $80m.


EMAS Group CEO and managing director Lionel Lee said that winning the contracts allows the company to showcase its breadth of capabilities and global reach.


"It is an auspicious start to the new year. We are seeing a good pickup of activities in the key regions where we are focused on, and we are well positioned to take advantage of the upturn in 2014," Lee added.


The company's profits increased by 22% to reach $339.8m in 2013. It currently has subsea orders of more than $1.4bn, and is still tendering for approximately $9bn in projects globally.


EMAS AMC is a service provider of subsea-to-surface solutions for the offshore oil and gas industry. It mainly caters to the SURF and subsea tie-back sectors. Business offerings include subsea installation of umbilicals / power cables, pipelines, platforms, FPSOs and floater installations.