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EOC bags US$15M contract for upgrades on FPSO Lewek EMAS

Friday, Oct 19, 2012

EOC Limited (EOC or the Group)(OSE:EOC) has been awarded a contract in relation to the FPSO Lewek EMAS from the vessel’s charterer Premier Oil Vietnam Offshore BV.

Under the contract, worth up to US$15 million, EOC will provide project management as well as engineering and procurement services for the modification of the Lewek EMAS to accommodate a subsea tie-back linking the FPSO to the nearby Premier-operated Dua oil field, offshore Vietnam. A subsea tie-back connects the new oil and gas development to an existing production facility, thereby maximising the use of the Lewek EMAS as a production platform. Work has already commenced on the contract and will be completed in late 2013.

EOC’s Chief Operating Officer, Mr Jon Dunstan, said: “We are delighted that Premier has exercised this option to upgrade the Lewek EMAS and are excited to demonstrate the unit’s capacity and flexibility to accommodate additional throughput which will benefit both the vessel’s owners and Premier.”

“The modification work will be performed on the Lewek EMAS while the vessel continues producing crude oil and gas from the Premier-operated Chim Sao field and we will work closely with Premier to ensure the success of this project.”

Premier Oil Vietnam Offshore is a wholly owned subsidiary of UK-headquartered Premier Oil plc, a leading independent exploration and production company in the offshore sector.

The Lewek EMAS, the EOC Group’s second and latest FPSO, achieved first oil from the Premier-operated Chim Sao field in Vietnam in October 2011 and is currently on a charter to Premier, worth up to US$1 billion, for a primary term of six years and with a further six renewable one-year extension options.

Source: Business Wire

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