Civmec has agreed to enter into a due diligence phase for the acquisition of PT Global Industries Asia Pacific, a subsidiary of Technip.
The terms include a long-term collaboration agreement with Technip for services and facilities for current and future project work globally. The proposed acquisition includes securing 21 hectares of strategically located waterfront land with deepwater access in Batam, Indonesia.
Further development of the facility will enable the company to carry out many of its multi-disciplined capabilities, the company announced, which include heavy engineering, modularization and pre-cast concrete works.
The location and geometry of the land also make it ideal for new activities such as the potential establishment of a spool base for shallow and deepwater subsea pipelines.
The company believes that the considerable opportunities in the infrastructure and subsea sectors, as well as the long-term outlook within the oil and gas and mining sectors substantiates the investment in what will be a state of the art and internationally competitive facility.
“This is a very exciting opportunity for us to extend our multi-disciplinary operations overseas. We will be well positioned to capitalize on the significant infrastructure expenditure planned for Southeast Asia,” said Civmec’s chief executive officer, Pat Tallon.
“The increased capacity allows Civmec to deepen our relationship with existing blue chip clients globally, as well as bringing onboard new regional clients. It is particularly exciting for us to have the opportunity to further strengthen our relationship with Technip, which began with our awards of projects for Shell Prelude FLNG (Floating liquefied natural gas) and Chevron’s Wheatstone Subsea Project.
“The proposed acquisition provides Civmec a platform to grow our Southeast Asian business in addition to positioning ourselves in a strategic geographical location to service clients who are operating or have plans to operate in future growth regions of the world,” he added.
AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week