Cape expands into Malaysian oil and gas industry, after signing a joint venture with Malaysian based OLIO Resources.
The offshore oil, gas and energy services firm announced the news Wednesday (Jan 6th), saying that the move will: “bring together the capacity, experience and skills of both organisations in order to serve the Malaysian market.”
Cape Expands Into Malaysian Oil And Gas
Cape has been looking to continue expanding and diversifying its business, into growing sectors of the global offshore energy industry, during the oil and gas downturn.
Currently Cape Plc employes over 17,000 personnel, supplying services including specialist coatings; insulation; traditional access and specialist roped access, to the the offshore energy industry across 21 countries.
The move will give Cape access to the Malaysian market and OLIO’s portfolio of existing customers, including PETRONAS, and oil and gas super majors Shell and ExxonMobile.
Commenting on the joint venture Cape CEO, Joe Oatley, said: “We are pleased to enter into this joint venture with OLIO to establish a company dedicated to the Oil and Gas services market inside Malaysia and look forward to a long standing successful bond between both companies”.
OLIO is a Malaysian based company setup in 1995 with the aim of servicing both upstream and downstream oil and gas sectors of the Malaysian energy industry.
“We are very excited about this partnership between OLIO and Cape which we believe will form an important part of our vision to become a leading solutions provider to the Oil, Gas and Energy market in the region”. said OLIO Executive Chairman Dato’ Ramli Md Nor.