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MESSAGE FROM LIONEL LEE, EMAS GROUP MD MESSAGE FROM MD

HEADLINE NEWS

EMAS AMC

The first quarter of 2012 is off to a good start with good revenue growth across the various divisions of the Group. Our revenue for the first quarter ending 30 November 2011 has seen a substantial increase from the US$75.9 million posted in the previous corresponding period to US$180.5 million. This increase is largely attributed to increased revenue from EMAS AMC, EMAS Marine and TRIYARDS.

EMAS ENERGY

EMAS MARINE

EMAS PRODUCTION

I am also extremely delighted to share the Group’s recent contract wins, including up to US$120 million worth of subsea and offshore support contracts. This is a vote of confidence from our clients on our ability to win, execute and safely deliver significant projects despite keen competition from top-tier subsea players. Taking into account the recently announced contract win from Statoil worth up to a combined NOK618 million (US$104 million), the Group’s current overall order backlog now exceeds a record US$1.6 billion — a laudable feat since we completed the acquisition less than a year ago.

CELEBRATING THE NAMING & CHRISTENING OF LEWEK FALCON EMAS recently christened the Lewek Falcon on 10 February 2012. The vessel was constructed with the support of Oversea-Chinese Banking Corporation (OCBC), and EMAS was honoured to have Mrs Anne Cheong — wife of OCBC Chairman Dr Cheong — as Lady of Honour in the naming ceremony.

MESSAGE FROM MD

HEADLINE NEWS

EMAS AMC

The Lewek Falcon is a multifunctional ultra-deepwater anchor handling, tug and SURF construction vessel, designed and equipped to meet the harshest global conditions and is among the largest in its class. It is the first time that a Singapore-based company has made a sustained commitment to build and deliver complex vessels of North Sea construction standards. The vessel is also designed and capable of tasks including subsea construction, ROV intervention, subsea maintenance and repair work. The vessel is the latest project-enabling asset for EMAS AMC, as the Rolls-Royce designed UT788 is built to meet the latest demands of the offshore industry. It is 93.4m long with a 22m beam and max draught of 7.7m with over 23,160kW of installed power for maximum bollard pull of over 400 tonnes. Lewek Falcon is fitted with two world class deepwater WROVs, a subsea crane and ‘A’ frame. With a moden construction vessel like the Lewek Falcon and its diverse application capabilities, EMAS aims to deliver projects in a safer, more efficient and reliable manner anywhere in the world.

EMAS ENERGY

EMAS MARINE

EMAS PRODUCTION

In addition, Lewek Fulmar has done us proud by overcoming numerous competitors and stringent requirements to become the largest vessel of her type in the Petrobras fleet. As a Group, we are comitted across all our divisions to build on these contract wins as we strive towards serving our clients globally.

Below: Distinguished guests from EMAS and Oversea-Chinese Banking Corporation (OCBC) at the christening ceremony and vessel tour of the Lewek Falcon

TOGETHER WE DELIVER. Lionel Lee Group Managing Director

Below: The Lewek Fulmar, which has been engaged as one of the largest vessels of her type in a major national oil company’s fleet Facing page: The Lewek Falcon

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MESSAGE FROM MD

MESSAGE FROM MD

HEADLINE NEWS

HEADLINE NEWS

EMAS AMC

EMAS AMC

EMAS ENERGY

EMAS ENERGY

EMAS MARINE

EMAS PRODUCTION

EMAS ENERGY

EMAS AMC Provides offshore installation and subsea construction services at any water depth, anywhere in the world. Services include: • EPIC SURF, IMR & Subsea • Construction • Heavy Lift (Platform Structures & Subsea Manifolds) • Floatover Installation • EPIC Pipelay - Flexibles & Rigid (S-Lay/ Reel-Lay) • Decommissioning

EMAIL:

EMAS_AMC@EMAS.COM

EMAS AMC has been awarded two contracts from Statoil for mooring chain and riser replacements in the North Sea on the Norwegian Continental Shelf. “EMAS AMC has done similar work for Statoil previously in 2009, and with this award EMAS AMC consolidates its position within the floating segment,” said Svein Haug, Regional Head for EMAS AMC (Europe and Africa) (pictured above).

EMAS MARINE

EMAS PRODUCTION

Offers a broad spectrum of well services combining onshore and offshore drilling with fully integrated well intervention equipment and services, including: Above: Lewek Champion • • • • • •

The combined contract value is estimated to be approximately NOK425 million (US$73 million) and up to NOK618 million (US$104 million) assuming contract options are exercised. With both contracts involving work on several floating platforms, the scope for the mooring chain replacement contract includes replacement work on part of the mooring system while the riser replacement contract includes riser recovery and installation work. Engineering and planning of the work for both contracts will commence immediately and the offshore operations will begin from 2012 onwards. “We are very pleased and proud to have been selected by Statoil for these two projects. The contracts, which will be managed out of our Oslo office, mark another important milestone for EMAS AMC, combining our reputable engineering capabilities with our modern fleet of construction assets,” commented Svein.

Drilling Well Intervention Well Stimulation Well Abandonment Pipeline & Process services Oil tool rentals

EMAIL: EMAS_ENERGY@EMAS.COM

LEWEK CHAMPION CREW WIN CHEVRON SAFETY AWARD EMAS AMC recently received the “Outstanding Contractor Crew” award from Chevron (Thailand) on 21 February. This was awarded to the crew of Lewek Champion at the 2012 Contractor Forum. The award was presented in recognition of crew commitment to Health, Safety and Environment (HSE) while working at Chevron locations. Criteria for receiving the award include zero recordable incidents, great housekeeping, attendance at Chevron safety meetings and having safety measures such as Job Safety Analysis (JSA) in place and used. This achievement recognises EMAS’s commitment to safety, quality and efficiency in delivering all our projects. Said Teo Chor Ping, Senior Vice President of Projects & Operations, “This is EMAS AMC’s first project with Chevron, and we are honoured to be recognised by this award. It affirms EMAS’s competency as well as crew commitment to safe operations, and we are committed to maintaining an incident and injury-free work environment for all.”

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Above: TRIYARDS SSY Vietnam EMAS has won a one-year contract (with two one-year extension options) with an estimated value of US$16m for a major oil operator in Asia. The contract is for offshore rigless Plug and Abandonment operations which use an EMAS-designed unit built by TRIYARDS in Vietnam. After a month of yard trials, EMAS can expect to start operations on 1 March 2012. The contract will see the EMAS Energy division branch out into Cementing and Wireline operations.

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INTERIM AGREEMENT FOR NORTH SEA PROJECT INKED BY EMAS PRODUCTION

MESSAGE FROM MD

MESSAGE FROM MD

HEADLINE NEWS

HEADLINE NEWS

EMAS Production has entered into an exclusive interim agreement with the owners of the Perth field comprising DEO Petroleum UK Limited, Faroe Petroleum UK Limited and Atlantic Petroleum UK Limited (together “DEO Petroleum”). Under the agreement, EMAS Production will perform detailed engineering to further refine the concept established during the FEED (Front End Engineering and Design) studies for a Floating Production Storage and Offloading vessel (FPSO) to be deployed in the Perth Field development in Block 15/21a of the UK Continental Shelf. The FPSO and its processing capabilities will be designed to accommodate the several phases of development drilling on the field, and will also feature expanded capacity to handle the anticipated tiebacks from the various third-party stranded fields in the vicinity. The parties have also substantially agreed on commercial and other terms for the Charter Party that they propose to enter on satisfaction of certain conditions including project sanction by the Department of Energy and Climate Change (“DECC”).

EMAS AMC

EMAS ENERGY

EMAS MARINE

EMAS PRODUCTION

EMAS MARINE Provides • Offshore support vessels • Marine assurance • Manpower • Vessel management for the oil and gas industry Manages a fleet of more than 40 vessels including AHTS, PSVs, DSVs, Self propelled jack-ups and accomodation and construction barges, and specialised vessels. EMAIL:

EMAS_MARINE@EMAS.COM

Above: The Lewek Fulmar, one of EMAS’s latest additions to the fleet Two UT 788 CDs are now operating for EMAS in support of client operations. They are the largest UT vessels to be built in Asia to date and the design was developed in close cooperation with the client to meet a strict set of requirements. Lewek Fulmar and Lewek Falcon are among the most powerful vessels of their type in operation. They are multifunctional deepwater anchor handling tug supply and service vessels which can also support tasks relating to subsea construction, ROV intervention, subsea maintenance and repair work. “Central to our vision was that these new vessels would be technically complex, making the very best of available technology and able to deliver our clients’ future needs, even before they knew what those needs were”, says Robin Kirkpatrick, Chief Executive Officer of EMAS Marine.

Said Chief Executive Officer Mr Lim Kwee Keong: “Our aspiration is that this agreement with the Perth Group will see our maiden foray into the North Sea, a major area of potential for the deployment of FPSOs. We are confident that EMAS Production’s experienced professionals will deliver the high standards necessary for the harsh and demanding operating environment in the North Sea.” This FPSO will the have capacity to process 30mbd and includes a gas lift facility, amine unit for H2S treatment and water injection. First oil is scheduled for the second quarter of 2014.

EMAS AMC

EMAS ENERGY

EMAS PRODUCTION

EMAS MARINE

EMAS PRODUCTION

Owns and operates FPSOs, covering • Conversion management • Operations and maintenance of production facilities • Engineering and design for mooring and riser systems • Turret and fluid transfer systems for FPSOs

EMAIL:

EMAS_PRODUCTION@EMAS.COM

*EMAS Production is the operating brand of EOC Limited.

LEWEK EMAS ACHIEVES PRODUCTION MILESTONE

“We are continuing our global expansion to markets outside Asia where complex vessels are the norm, so the ability to safely undertake deepwater and harsh environment operations was at the forefront of our decision to invest. We took the view that only companies able to meet the exacting demands of harsh environment deep water operations and able to satisfy ever more demanding clients would continue to be successful. Early on there was a lot of dialogue between Rolls-Royce and ourselves, as we worked out the key design and performance parameters. Minimising the vessel’s environmental impact and maximising crew safety and comfort were high on the list”. Above: The Lewek EMAS achieved first oil in October last year and has now reached offshore completion Lewek Fulmar has now commenced a multi-year contract with a major client in Brazil and Lewek Falcon is now working full time for EMAS AMC, EMAS’s growing subsea construction division that has over 40 years of collective experience in design, construction, transportation and installation work.

EMAS’s second FPSO, the Lewek EMAS, recently concluded its 10th cargo offload on 14 February 2012. This brings the total crude produced to 3,000,000 bbl since production started in October 2011. The vessel has also reached offshore completion, marking the commencement of the vessel’s charter hire.

*Article contributed by Andrew Rice from Rolls-Royce Singapore.

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Profile for Jean Lim

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EMAS External Newsletter

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EMAS External Newsletter

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