Vallianz Eyes Offshore Market With Rawabi Swiber Purchase


News: Singapore-based Vallianz Holdings has purchased a 50% stake in Saudi Arabia-based Rawabi Swiber Offshore Services for a cash consideration of US$1.45mn. Rawabi Swiber Offshore Services is a jointly owned subsidiary of Saudi Arabia-based Swiber Offshore Construction and Saudi Arabian oil and gas company Rawabi. The transaction will help Vallianz to capitalise on the growth opportunities in exploration and production sector offshore the Middle East, said Vallianz Holdings' CEO Darren Yeo.

This article is tagged to:
Sector: Oil & Gas
Geography: Saudi Arabia