01 December 2012

Ezra's EOC to sell 51% equity interest in the entities owning and operating the FPSO Lewek Arunothai

As reflected in the announcement made by the Company on 14 November 2012 via SGXNET, the Company’s associated company, EOC Limited (“EOC”) has secured a Letter of Award from Hess Exploration and Production Malaysia B.V. via its Malaysian agent Larizz Petroleum Services Sdn Bhd, for the charter of the FPSO Lewek Arunothai for a period of 3 years with an option to extend up to a further 3 years (the “Announcement”). 

EOC is the 45.7% owned associate company and production division (EMAS Production) of the EMAS Group.

Further to the Announcement, EOC has today entered into a share sale and purchase agreement with Perisai Petroleum Teknologi BHD for the sale of 51% of the equity interest in the entities owning and operating the FPSO and the purchase of 50% of the equity interest in SJR Marine (L) LTD (the “Transaction”).

More information on the Transaction can be obtained from the announcement on 30 November 2012, made by EOC in the Oslo Bors. Such announcement may be accessed at http://www.emasoffshore-cnp.com/news.php?releaseid=724503.

By Order of the Board

Yeo Keng Nien
Company Secretary
1 December 2012

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