Qatar: Al Rayan Investment and Sapura Crest Petroleum Form a Joint Venture


Al Rayan Investment LLC, a wholly-owned subsidiary of Masraf Al Rayan announced a joint venture with Malaysia-based oil and gas services company, SapuraCrest Ventures Sdn Bhd, formerly known as Petro-Plus Sdn Bhd – a wholly-owned subsidiary of Sapuracrest Petroleum Berhad.

Joint venture called SapuraCrest Qatar LLC to operate in the oil and gas sector. The joint venture will see the incorporation of a new company called SapuraCrest Qatar LLC, which will leverage the expertise and experience of SapuraCrest Petroleum in the oil and gas services sectors in Qatar.

This joint venture will be established after seeking and obtaining the necessary approvals from all relevant authorities. Commenting on the joint venture, Dr Hussain Al-Abdulla, Chairman of Masraf Al Rayan, said:

“This partnership offers a unique synergy that will establish SapuraCrest Qatar as a key player in the region’s oil and gas industry. Al Rayan Investment has a well entrenched regional market presence, which will be complemented by the substantial expertise and experience of SapuraCrest Petroleum in the oil and gas services industry.”

Qatar provides immense potential for oil and gas service providers, and SapuraCrest Ventures is delighted to have partnered with an established organization like Al Rayan Investment. This collaboration represents our continuing effort to expand SapuraCrest Petroleum’s presence in the international arena of which the Middle East is a major market,” said Datuk Shahril Shamsuddin, Executive Vice Chairman of SapuraCrest Petroleum Berhad.

The joint venture agreement was signed in Doha, Qatar. Share ownership in the new joint venture will see Al Rayan owning 51% of its issued shares while SapuraCrest Ventures will own the remaining 49%.

Headquartered in Kuala Lumpur, Malaysia, SapuraCrest Petroleum provides specialized engineering services to the oil & gas, marine and power industries.

With offices across Malaysia, Singapore and Australia, SapuraCrest Petroleum offers a variety of engineering services, ranging from installation of pipeline & facilities services, marine services, drilling, as well as operations & maintenance.

Source: ameinfo, June 3, 2010;

Share this article

Follow Offshore Energy Today

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

Shanghai Int Petrochemical and Offshore Oil & Gas and Chemical Industry Technology and Equipment Exhibition 2019

cippe Shanghai has attracts both domestic and overseas buyer groups, including Shell, Exxon Mobil, Total…

read more >

OIL & GAS PHILIPPINES 2019

Oil & Gas Philippines event display products like Oil & gas, fire protection systems and materials…

read more >

Nigeria Oil & Gas Conference & Exhibition 2019

The annual meeting once again proved to be a great success, gathering over 700 industry professionals…

read more >

08th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply