Contractor expands in the Middle East with 拢25m buy
Interserve has expanded in the Middle East with the acquisition of an Omani oil and gas services company for $41m (拢25m).
Interserve has bought Willbros Middle East Limited and its subsidiaries 鈥� including The Oman Construction Company 鈥� which provide oil field maintenance, construction and logistics services.
Adrian Ringrose, chief executive of Interserve said: 鈥淚nterserve sees the Middle East oil and gas sector as a key growth market and this acquisition further develops our presence in the region.
鈥淎s part of Interserve, we believe TOCO鈥檚 growth will be accelerated through innovation, enhanced business development and a number of operational efficiencies.鈥�
The UK firm has made the acquisition with an Omani partner with the stakes split 85:15.
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