Lamprell
expands with Nemmoco Petroleum acquisition
Posted: 31 March 2003
Dubai based Lamprell Energy Ltd, primarily known in the oil industry
as a major player in the Middle East for the refurbishment and upgrading
of offshore jack-up rigs, has over the past three years significantly
expanded its operations in the region.
Last year saw the opening of their brand new facility at Jebel
Ali, built specifically for the fabrication of FPSO process/ production
modules.
This major commitment has already paid off handsomely with a whole
range of modules having been awarded by SBM to support their world
wide development program.
In February this year Lamprell further expanded their upstream interests
with the acquisition of Nemmoco Petroleum Ltd, a regional junior
oil company with significant interests in Slovenia.
Lamprell Oil and Gas Ltd has become the sole owner of Nemmoco and
will be commencing an initial work-over program beginning in April
in the 35 acre Slovenian field which includes parts of the Petisovsci
and Dolina fields near the boarders of Croatia and Hungary.
The field development is being undertaken in conjunction with Canadian
partner, Calgary based Loon Energy, who have a 35 per cent stake
in the field.
Nigel McCue the new CEO of Nemmoco said that "the new work-over
program will start up next month and we are confidently looking
forward to working with Loon and to jointly seeing some encouraging
results by the end of the third quarter ".
Lamprell`s Chief Executive , Peter Whitbread, stated "the acquisition
of Nemmoco does not in any way reduce our commitment to our traditional
offshore market, this is part of a planned development for the Lamprell
Group as a whole".
Posted by Richard Price,
Editor Pipeline Magazine
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