The work of the two companies will focus on providing services in the area of exploration and pre-production, maintenance and repair and renovation activities of the oil and gas sector, Al-Merri said.
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Gazprom Enters Kuwaiti Market
Russian oil and gas giant has entered Kuwait with the help of a Kuwaiti investment company which formed a couple of joint venture firms with the subsidiary of Gazprom
Under a joint company, Noor Financial Investment Company will join with Gazprom Geofizika to form one company in Russia and another in Kuwait to cover upstream and maintenance services, the Kuwait News Agency (Kuna) reported.
Nasser Al-Merri, Noor Invest Deputy Chairman and Managing Director, said the joint venture in Russia will work under Gazprom and will control a share of 51 percent of its shares, while Noor will control 49 percent of the shares.
The joint venture, which will establish a similar company in Kuwait, will have 51 percent of its shares, while Gazprom holds 29 percent of the shares and the remaining 20 percent share will be for a Cyprus Silantro Holding Ltd company.
The work of the two companies will focus on providing services in the area of exploration and pre-production, maintenance and repair and renovation activities of the oil and gas sector, Al-Merri said.
The work of the two companies will focus on providing services in the area of exploration and pre-production, maintenance and repair and renovation activities of the oil and gas sector, Al-Merri said.
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