The Oslo-listed spin-off of Singapore-based offshore vesselowner Ezra Holdings sold the Lewek Champion (built 2007) to Chinese bank ICBCfor $200m in February.
It booked a $36.4m gain from the arrangement which waslargely responsible for pushing net profit to $44m from $1.4m in the secondquarter of 2013.
Increased contributions from its core operations also playeda key role in boosting earnings in the three months ended 28 February comparedto same period a year earlier.
High uptime for its two FPSOs lifted EOC's share of earningsfrom associates to $5.5m from $0.2m.
Revenue increased by 45% to $11.5m from $8m mainly due to highercontributions from project management, engineering and procurement services.
Since the quarter ended EOC has secured a $100m contract forits accommodation barge Lewek Constructor (built 2004) which will lift earnings in the second half of the year.
