The contract is worth $49.1m and will run for four years.
Ezion said the service rig is expected to be deployed to Middle East around mid-2014 after its refurbishment and conversion.
In conjunction with the project, the company will set up a joint venture with Kim Seng Holdings through its subsidiary, Scott & English, to acquire and own the rig. The project will be funded through internal resources as well as bank borrowings.
In July 2013, the company bagged a similar contract from a southeast Asian-based national oil company to support its oil and gas activities.
Valued at about $82.1m, the contract was to supply a service rig for five years.
