Entrepose acquires Istana Karang Laut
Tuesday, May 5 2015 - 12:47 AM WIB
French oil and gas infrastructure builder Entrepose, a VINCI Construction subsidiary, has completed the acquisition of Indonesian oil and gas equipment company PT Istana Karang Laut (IKL), a move that is expected to further strengthen its position in Asia?s oil and gas industry.
IKL, which was incorporated in 1981, is a recognized player in the upstream and downstream sectors of Asia's oil and gas industry. It has expertise in both onshore and offshore activities, notably through the design and manufacture of oil and gas production process modules and metering systems, as well as turnkey project management under EPC (engineering, procurement, construction and commissioning) contracts.
The company has 130 employees and generates revenue of around ?30 million, VINCI said in a statement Monday.
"This acquisition confirms Entrepose's strategy to expand geographically and diversify its activities. IKL opens up markets for us in Central and South-East Asia, where demand for energy is increasing strongly and where resources have not yet been totally exploited. The company also brings us products and services in the downstream sector of the oil and gas industry. An excellent illustration of this is the contract signed on 27 April 2015 between IKL and SGFL, a state-owned company in Bangladesh, for the design, construction and commissioning of a condensate fractionation plant," said Beno?t Lecinq, chairman of Entrepose in the statement.
The company said the acquisition also illustrates one of VINCI's main strategic priorities: to expand in activities with high technical content in regions of the world that have strong growth potential.
Entrepose, an international entrepreneur, designs, builds and operates production, transport and storage infrastructure for the oil and gas industry, as well as for other energy sources. It works all over the world on onshore, offshore and underground projects including delivery of turnkey industrial, onshore and offshore facilities; installation of onshore and offshore pipelines; drilling for oil, gas, geothermal energy and water wells; and construction and operation of underground storage sites.
Entrepose generated revenue of ?835 million in 2014 and has over 3,500 employees worldwide.
Editing by Reiner Simanjuntak