Petroleum Africa
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Wednesday, August 7, 2013
Africa Oilfield Logistics acquired a stake in an oil field and logistics business. The business, Ardan Risk & Support Services, has operations in Kenya, Ethiopia, and Mauritius. Africa Oilfield has also been granted exclusivity for a period of 180 days with a view to entering into an agreement to acquire the remaining 51% interest in Ardan.
Africa Oilfield director Andrew Groves said, “Ardan represents a compelling investment opportunity for Africa Oilfield, combining a strong industry reputation, a secure client list of oil and gas majors, and significant growth in revenue over its five years of operation.
“I am confident that the considerable growth that the Ardan team have achieved over recent years can be further enhanced and to facilitate this, Africa Oilfield has committed to provide funding to enable the Ardan team to accelerate its expansion into new services and geographic regions, and attract further ‘blue chip’ oil and gas clients to Ardan’s roster.
“With an aggressive expansion program under way, a high caliber management team in place and top quality projects underway and in the pipeline, Ardan expects to continue its growth trajectory over the next few years.
“Ardan is a robust business with huge scope for growth, and with the investment, guidance and network of Africa Oilfield, I am confident that we are ideally positioned to assist Ardan in its expansion towards becoming the oilfield services and logistics company of choice across the region.”
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