Entrepose Acquires Oil, Gas Equipment Maker IKL
French oil and gas infrastructure builder Entrepose announced Monday that it has bought Indonesian process equipment firm PT Istana Karang Laut (IKL).
IKL makes oil and gas production process modules and metering systems, and it also supplies turnkey project management solutions under EPC (engineering, procurement, construction and commissioning) contracts.
Entrepose – a subsidiary of construction group VINCI – designs, builds and operates production, transport and storage infrastructure for the oil and gas industry. The acquisition of IKL is part of the company's strategy to expand geographically and diversify its activities, according to Entrepose Chairman Benoît Lecinq.
"IKL opens up markets for us in Central and South-East Asia, where demand for energy is increasing strongly and where resources have not yet been totally exploited. The company also brings us products and services in the downstream sector of the oil and gas industry," he said, highlighting the recent deal between IKL and SGFL, a state-owned company in Bangladesh, for the design, construction and commissioning of a condensate fractionation plant.
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