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AMEC Acquires Stake in Brazilian Oil & Gas Market

Source: www.gulfoilandgas.com 9/19/2012, Location: South America

AMEC, the international engineering and project management company, announces that it has signed an agreement to acquire a 50 per cent stake in Kromav Engenharia Ltda (KROMAV), a privately owned Brazilian offshore oil and gas and marine engineering company.

KROMAV is based in Rio de Janeiro, and has a team of some 200 people specialising in engineering services for offshore platforms, FPSO (Floating, Production, Storage & Offloading) vessels and other marine applications. Their customers include Petrobras, OSX, and major EPC (engineer, procure, construct) companies and they have worked on over 400 marine and offshore projects.

Combining KROMAV’s local reputation and engineering expertise with AMEC’s international major project delivery capability, which includes 50 global FPSO projects, will support AMEC’s Vision 2015 strategy to develop fully integrated service capabilities in Brazil. The company will be called AMEC KROMAV.

"This investment in Brazil is one of our foundations to delivering Vision 2015 in the oil and gas market and we are proud to associate ourselves with the technical expertise of KROMAV,” said Simon Naylor, President of AMEC’s Natural Resources Americas business.

Andy Sallis, AMEC’s President of Oil & Gas Americas, added: “Combining our 30 years’ experience of delivering onshore and offshore projects in the region with locally based resources and expertise positions AMEC KROMAV to better assist customers and regional operators in the largest deepwater market in the world.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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