SINGAPORE--(BUSINESS WIRE)--FIRST QUARTER FINANCIAL YEAR 2011 RESULTS
- 1QFY11 revenue of US$23.5m vs previous US$27.4m; optimal operation of Lewek Arunothai helped offset the standby period of Lewek Champion
- 2nd FPSO expected to be delivered in mid-2011 will enhance Group’s operational track record
- Expects sustainable recovery in demand for offshore construction and production activities to lift fleet utilisation
EOC Limited (EOC or the Group) (OSE:EOC), a provider of offshore oil and gas support services in Asia, today reported a net profit of US$0.6 million for the first quarter ended 30 November 2010 (1QFY11) on a revenue of US$23.5 million which is a decline of 14% year-on-year.
Please see the 1st quarter FY2011 financial report and results presentation:
1st Quarter FY2011 Unaudited Consolidated Financial Information
EOC LIMITED 1Q FY2011 Financial Performance Review
ABOUT THE COMPANY
Oslo Børs listing: October 2007
EOC Limited offers offshore construction & floating production services and installation & commissioning work as well as transportation services that support the entire life cycle of offshore oil & gas production.
It manages two heavy-lift accommodation crane barges, the Lewek Conqueror and the Lewek Chancellor; a dynamically positioned heavy-lift accommodation pipelay vessel, the Lewek Champion; and a floating production, storage and offloading unit, the Lewek Arunothai. These vessels are utilised in various support activities that last through facility development, production, operations, maintenance and abandonment.
The firm operates in Australia, Brunei, India, Indonesia, Malaysia, the Middle East, the Philippines and Thailand, and is an associate company of Singapore Exchange-listed Ezra Holdings Limited, the largest owner/operator of an integrated range of offshore support vessels for charter across a broad spectrum of the oil & gas offshore support services supply chain.
Other media releases on the company can be accessed at www.oaktreeadvisers.com
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