Ezion 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.
