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2016-05-10

EMAS Offshore Limited: EMAS OFFSHORE ANNOUNCES CONTRACT AWARDS AMIDST CHALLENGING CONDITIONS

· Charters with national oil companies, oil majors and contractors
in Southeast Asia and West Africa

EMAS Offshore Limited ("EMAS Offshore" or the "Group"), an established
offshore services provider offering offshore support, accommodation,
construction and production services to the oil and gas industry,
announced today that since the start of Q3 FY2016, it has secured new
awards and letter of intents for charters amounting to approximately
US$32 million, including options.

These new charters will see EMAS Offshore's Anchor Handling Tug
("AHT"), Anchor Handling Tug and Supply ("AHTS") and Platform Supply
("PSV") vessels supporting National Oil companies ("NOCs"),
International Oil companies ("IOCs") and other offshore contractors
on drilling operations and cargo supply runs for offshore oil field
projects in their production phases.

Concentrated in Malaysia, Thailand, Myanmar and Vietnam, these
contracts also comprise of awards from the West Africa region.

Commenting on these recent contract wins, Captain Adarash Kumar, Chief
Executive Officer of EMAS Offshore said: "Despite weakness in the
offshore support sector and the ongoing volatility in oil prices, our
team is working hard to keep utilisation at a sustainable level.
These contract wins are a testament to the team's ongoing efforts as
well as the strength of our offerings in Southeast Asia and West
Africa. Moving forward, we aim to further improve utilisation rates
and operational efficiencies to tide us through this challenging
period."

ABOUT THE COMPANY

www.emasoffshore.com

Oslo Børs listing: October 2007 ; SGX Mainboard listing: October 2014

EMAS Offshore Limited (EMAS Offshore or the Company) is an established
offshore services provider offering offshore support, accommodation,
construction and production services to customers in the oil and gas
industry throughout the oilfield lifecycle, spanning exploration,
development, production and decommissioning stages. Headquartered in
Singapore, EMAS Offshore holds a leading market position in the Asia
Pacific region, with global operations across Latin America, Africa
and Australia.

Business activities are carried out by two business segments, namely:
(1) the Offshore Support and Accommodation Services division and (2)
the Offshore Production Services division.

EMAS Offshore's excellent operational and HSE (health, safety and
environment) track record has allowed the Company to establish strong
working relationships with leading international oil majors, national
oil companies and various independent operators.

FOR FURTHER ENQUIRIES

Mr. Hsu Chong Pin

EMAS Offshore Limited
65 6800 1202
investor_relations@emasoffshore-cnp.com

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http://news.cision.com/emas-offshore-limited/r/emas-offshore-announces-c...
http://mb.cision.com/Public/738/2005912/800d517d0cca949e.pdf

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