Nobel Oil bought 50% of Denholm Oilfield Services company in Azerbaijan

Nobel Oil Services Ltd company bought half of Denholm Oilfield Services Limited in Azerbaijan, reads the company’s report released on Tuesday.

The report reads that Denholm confirmed sale of 50% share in SDL Denholm Limited and Denholm Oilfields Services (Azerbaijan) Limited of British Nobel Oil Services Limited. The size of the deal is not disclosed.

Michael Ring, Exective Director of Nobel Oil Services, said that the purchase clearly demonstrates strategy of durther development of Nobel Oil Services.

“Purchase of half of Denholm company in Azerbaijan is aimed at creating of advanced possibilities and effectively functioning assets in the country at the expense of creation of joint ventures with famous western companies in the oil and gas industry and adjacent fields. As a result we will be able to create and develop Azerbaijani companies up to the international level and provide services to big international and local clients in the region. We hope for deepening of our partnership relationships with Denholm,” he said.

Denholm Oilfield Services Limited has been working in the key oil producing regions of the world, including UK, Azerbaijan, Kazakhstan and UAE, by providing professional services in the fields of cargo transportation, valve management, electric fields and recruitment.

John Denholm, chairman of Board of Denholm Oilfield Services Limited, said that “Nobel Oil is a brilliant partner and the both sides are committed to the business growth and strengthening of Denholm’s reputation as a first class manufacturer in Azerbaijan. Nobel Oil occupies good positions in the upstream sector and we believe that we will be able to significantly increase the volume of orders at the expense of partnership merger of our possibilities with this company.”

“Nobel Oil shares our main values and approaches towards ethical and managerial methods of work and we are optimistic about the possibilities that this deal is going to open by uniting experience of Denholm in the production sector and service industry with Nobel Oil’s business connections in Azerbaijan,” added Michael Beverage, Executive Director of Denholm Oilfield Services Limited.

Nobel Oil Service is among the leading suppliers in fields of drilling, engineering and project management, technical services, supply and the services aimed at increasing oil recovery in Azerbaijan and outside of the country.—0—