CETCO Signs Service Deal with Libya
(Click to Enlarge)
Aberdeen-based CETCO Oilfield Services has announced it has signed a deal with the Libyan services agent company, APSCOP, Althuraya Petroleum Services and Supplies to provide water treatment services to the Libyan oil and gas industry.
Global leaders in the provision of cost effective, technologically advanced environmental systems designed to treat a variety of oilfield waste streams for the oil and gas industry, CETCO Oilfield Services has moved swiftly into the North African market following a highly successful fact finding mission at the end of 2008.
The deal will see the companies work together to pursue opportunities in the buoyant Libyan market with a keen focus on new business prospects across exploration, upstream, middle stream and downstream operations.
APSCOP, a company that has been active in the Libyan oil and gas market for a number of years has bases in both the oil capital of Tripoli and the city of Benghazi, playing a major role in the Libyan oil and gas industry resurgence in recent years.
Led by Mr. Fathi A Moftah, the company will provide CETCO with access to unrivalled specialist knowledge of the needs of local operators and the challenges faced by European companies in the emerging Libyan oil and gas market place.
Nick Joujou, CETCO Oilfield Services' business development manager for Libya said, "This deal represents a major milestone in CETCO's international development. We are delighted to work in partnership with APSCOP in Libya and are confident this is set to be a prosperous and long term relationship that will allow us to capitalize effectively on market opportunities.
"Key market drivers such as the very active exploration schedule coupled with Libya's aim to increase daily output from 1.5 million to 3 million barrels a day made this opportunity to provide our specialist water treatment systems to a new market simply too good to miss.
"Working with an established service agent such as APSCOP will further cement CETCO's international credentials as a major provider of water treatment services to the global market. We have achieved very positive results with the company’s diversification into Asia and the Middle East and this contract allows us to bolster our international workforce whilst also giving back to the Libyan community by providing training and employment for locally based employees."
Working in partnership with CETCO Oilfield Services, APSCOP will be able to offer customized, temporary and permanent water treatment services for different applications across the Libyan oil and gas market whilst also acting as an intermediary between CETCO Oilfield Services and local companies operating in the area.
Mr. Fathi A Moftah, CETCO's Libyan representative and managing director of APSCOP added, "We are pleased to have finalised a working agreement with CETCO Oilfield Services that will enable both companies to move forward and establish a firm base in the Libyan oil and gas market. We have been operating as service agents for a number of years now and our knowledge of the local industry coupled with an already strong capability to perform within the North African oil and gas sector will prove very beneficial to both companies."
APSCOP, providers of a wide range of services and supplies to the Libyan oil and gas industry specialize in environmental impact studies, transport of materials, handling and onshore storage.
Mr. Moftah continued, "We are particularly delighted that CETCO Oilfield Services has reiterated their commitment to the training and development of Libyan nationals thereby sharing the company's evolved knowledge gained from the North Sea and other international oil and gas producing regions. APSCOP is looking forward to a close working relationship with CETCO Oilfield Services strengthening both companies' key positions in the Libyan oil and gas and petrochemical industries market place."
With a workforce of more than 550 across 15 locations worldwide, CETCO Oilfield Services, a wholly owned subsidiary of AMCOL International Corporation, offers an array of patented technologies, products and services for all phases of oilfield production.