Ezion Holdings to provide rig service to Middle East energy firm

rig ezion-bengt nyman flickrEzion Holdings has secured a charter contract worth US$49.1mn to provide a service rig to an unnamed oil company in the Middle East

The unnamed firm will deploy the service rig for a four-year term for its offshore oil and gas fields in the Middle East in mid-2014, Singapore-based Ezion Holdings said.

The oil and gas company will also form a joint venture with Kim Seng Holdings Limited through its subsidiary, Scott & English Limited.

The project is expected to be funded through internal resources as well as bank borrowings.

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