28/06/2013

On 30 November 2012. EOC Limited ("EOC" or the "Company") announced that it had entered into an agreement with Perisai Petroleum Technologi BHD ("Perisai") in relation to the sale (the "FPSO Sale") of 51% equity interest in the entities owning and operating the FPSO "Perisai Kamelia" (formerly known as "Lewek Arunothai") to Perisai and for the acquisition (the "E3 Acquisition") from Perisai of 50% of the equity interest in SJR Marine (L) Ltd ("SJR Marine"), the owner of the offshore construction barge, the Enterprise 3 (the FPSO Sale and the E3 Acquisition collectively, the "Transaction"). On 28 March 2013, the Company released a related announcement, in respect of amendments to the terms of the Transaction, including a reduction of the percentage of equity interest to be acquired by EOC in SJR Marine from 50% to 49%. The latter announcement also referred to the extension of the completion deadline of the FPSO Sale to 30 June 2013.

On a related note, both EOC and Perisai have hereby agreed to further extend the completion deadline of the FPSO Sale to 15 August 2013. This is because certain conditions precedent to the FPSO Sale (such as the shareholders' approval of Perisai) were fulfilled less than a week prior to the completion deadline of 30 June 2013 and certain conditions for completion have also taken longer than first foreseen. Consequently, both parties have agreed that more time would be required to complete the Transaction.

ABOUT THE COMPANY
www.emasoffshore-cnp.com

Oslo Børs listing: October 2007

EOC Limited offers offshore floating production services that support the full life cycle of offshore oil and gas (O&G) production. It owns and operates two floating production, storage and offloading (FPSO) vessels, the Lewek Arunothai and the Lewek EMAS, and a fleet of construction vessels. The Group has conducted operations in Australia, Brunei, India, Indonesia, Malaysia, the Middle East, the Philippines, Vietnam and Thailand, and continues to do so currently.

EOC's successful operational and HSE (health, safety and environment) track records have enabled the Group to establish strong working relationships with leading international oil majors, national oil companies and various independent operators. In addition, these ties have brought in a steady stream of repeat business and recurring income.

The Group is an associate company of Singapore Exchange-listed Ezra Holdings Limited, a leading global offshore contractor and provider of integrated offshore solutions to the O&G industry.

FOR FURTHER ENQUIRIES

Mr. Chan Eng Yew
EOC Limited
65 9792 8616
engyew.chan@emasoffshore-cnp.com

Ms. Carol Chong
Oaktree Advisers
65 9475 3167
carolchong@oaktreeadvisers.com

Ms. Nora Cheng
Oaktree Advisers
65 9634 7450
noracheng@oaktreeadvisers.com

Other media releases on the company can be accessed at www.oaktreeadvisers.com

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