PVE sells 10% stake to Technip Geoproduction
18/01/2012 09:24 am
News - PetroVietnam Engineering Corporation (PVE), a unit of Vietnam Oil and Gas Group, has sold 2.5 million common shares, or a 10% stake, to Malaysia-based Technip Geoproduction Sdn Bhd.
PVE’s share sale is aimed at reinforcing its resources and expanding its services operations in the oil and gas industry engineering market.
To become a strategic partner of PVE, Technip Geoproduction pays VND14,500 for each share, according to the agreement signed last week. It will also provide technical support for consultancy and engineering services in offshore, sub-sea and onshore oil and gas projects, transfer technology and offer training courses for PVE engineers.
PVE provides consultancy services for project design, project management, resources exploration and quality testing.
Technip Geoproduction is a subsidiary of Technip Group in Asia Pacific active in sub-sea infrastructure, offshore platforms and onshore processing facilities.
PVE’s share sale is aimed at reinforcing its resources and expanding its services operations in the oil and gas industry engineering market.
To become a strategic partner of PVE, Technip Geoproduction pays VND14,500 for each share, according to the agreement signed last week. It will also provide technical support for consultancy and engineering services in offshore, sub-sea and onshore oil and gas projects, transfer technology and offer training courses for PVE engineers.
PVE provides consultancy services for project design, project management, resources exploration and quality testing.
Technip Geoproduction is a subsidiary of Technip Group in Asia Pacific active in sub-sea infrastructure, offshore platforms and onshore processing facilities.
Source: SGT
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