Ezra Holdings, the integrated support and marine services provider in the offshore oil and gas (O&G) sector, reported a 25% year-on-year increase in revenue to US$75.9 million ($98 million), for the first quarter ended 30 November 2010 (1Q FY11).

Ezra says the strong growth in revenue was spurred by two of its divisions: deepwater subsea services and marine services.

Turnover for deepwater subsea services surged by US$15.1 million, due to a full three-month contribution from a vessel which was delivered in the financial year ended 31 August 2010 and operated under the energy services unit, as well as an increase in well-servicing projects.

Marine services saw revenue rise by US$2.4 million, from an increase in procurement and equipment supply as well as engineering activities in Vietnam. The offshore support services division kept steady with turnover dipping slightly by US$2.5 million.

The group also saw gross profit increase by 33% to US$25.6 million, up from US$19.3 million in the previous corresponding quarter, driven largely by its deepwater subsea services arm.

Meanwhile, Ezra says it has won fresh charters worth up to US$73 million in total for three of its offshore support vessels.

The charter contracts and letters of award signed with EMAS Offshore Pte Ltd, Ezra’s operating entity for offshore support services, will see an anchor handling, towing and supply (AHTS) vessel and the two recently added multi-purpose platform supply vessels (PSVs) deployed in Asia.