Ezion, AusGroup Ink MOU to Collaborate in Australia

Singapore-based offshore services provider Ezion Holdings Limited announced Wednesday that it has entered into a memorandum of understanding (MOU) with AusGroup Limited to explore and pursue opportunities for colloboration in areas such as the provision of logistics supply chain and related support services in agreed areas in Australia, including but not limited to the oil and gas and resources industries and marine industries.

The MOU outlines the intentions of the firms for increased collaboration, cooperation and interaction, but does not create any legally binding commitments. They will enter into separate agreements if both agree to undertake specific joint projects with legally binding obligations.

AusGroup, in which Ezion has a 6.9 percent interest, provides fabrication, construction and integrated services to build, maintain and upgrade oil and gas, mineral resource and infrastructure development projects.

"As the Group and AusGroup currently serve different segments of the supply chain to the oil and gas industries, the Company believes that there are synergies to be created from the Proposed Collaboration, which would enable the Company to value add and offer a larger range of services to its customers, as well as increase the value of its investment in AusGroup," Ezion said in a press release.

AusGroup will appoint 2 directors nominated by Ezion to its board. The first will be appointed shortly to help guide the AusGroup board on the plans for collaboration, while the other will be appointed later, after formalization of further collaboration.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Aberdeen Firm to Hire More Staff in 20... (Mar 30)
 -  CGG, KGOC Teams to Work Together on In... (Mar 30)
 -  Aker Solutions Reduces Total Headcount... (Mar 30)
 -  First Workers Complete New Industry Tr... (Mar 29)
 -  Mexico, UK Strengthen Ties with 5-Day ... (Mar 29)


Most Popular Articles

From the Career Center
Jobs that may interest you
Cement Operators
Expertise: Cementing
Location: Midland, TX
 
Wireline Operators - Oklahoma City
Expertise: Wireline
Location: Oklahoma City, OK
 
Field Specialist Wireline- Oklahoma City
Expertise: Wireline
Location: Oklahoma City, OK
 
search for more jobs

Brent Crude Oil : $52.96/BBL 1.03%
Light Crude Oil : $50.35/BBL 1.69%
Natural Gas : $3.19/MMBtu 0.63%
Updated in last 24 hours