AMEC Acquires 60% of Batys Kazakhstan Kuat Service Limited
AMEC has agreed to acquire a 60% interest in Batys Kazakhstan Kuat Service from Kinlee S.A. for a total cash consideration of up to £5m (US$10m), subject to meeting defined performance targets. In 2006, BKKS generated revenues of £6m (US$12m).
Based in Aksai in northwest Kazakhstan, BKKS has been active in the oilfield asset support, operations and maintenance market since 2001. It employs over 200 skilled personnel on a number of long-term service contracts in the Karachaganak gas field, one of the largest in the world. AMEC has been working in Kazakhstan since 1993 and has recently opened an office in Uralsk to provide engineering, project, procurement and construction management services to the oil and gas fields in northwest Kazakhstan.
"As part of our global strategy of focusing on the energy and process sectors, we plan to become a leader in the provision of services to Kazakhstan's growing oil and gas industry," said Neil Bruce, Chief Operating Officer, AMEC's Natural Resources business. "This agreement marks the first partnership between an independent Kazakh services company and a large multi-national engineering services company. Combining AMEC's global capability with BKKS's local knowledge and resources should present both companies with exciting opportunities in the region."
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