Press Esc to close

WorldOil

World Oil News Center



Hunting to open East Africa service centers

NIDAA BAKHSH

LONDON (Bloomberg) -- Hunting Plc, a UK oil services provider, will open servicing and repair centers in Mozambique and Tanzania as explorers expand off East African shores.

“The main customers are all there and we want to provide them with their kit,” Peter Rose, CFO of the London-based company, said Aug. 28 in a phone interview.

Mozambique has become a focus for explorers such as Eni SpA and Anadarko Petroleum Corp. following the discovery of the world’s largest natural gas finds in a decade.

Hunting this year also set up a Kenya partnership, taking a 60% stake, and will complete a similar venture in Saudi Arabia by the end of the year, Rose said.

The company posted a 5% increase in revenue for the first half to $687.5 million and increased its dividend to 8.1 cents a share from 7.7 cents a year earlier, it said in a statement. A strong second-quarter offset a slow start to 2014, with momentum expected to continue through the year, Rose said.

08/28/2014

 

Bookmark and Share


WO DATA HUB

EngineeringTablesIcon-Large

Engineering Data Tables

World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.

WO SUPPLEMENTS

2013 Fracturing Technology

2013 Fracturing Technology

MEDIA CENTER

By Digital Publisher

Drill Bit Classifier World Oil published its renowned Drill Bit Classifier in September 2013. The Drill Bit Classifier is a comprehensive listing of major manufacturers' d...

ENERGY EVENTS

Upcoming Events