Hunting to open East Africa service centers
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.