MODEC Inc., a leading provider of floating solutions for the offshore oil and gas industry has formed a joint venture with indigenous Ghanaian company, JILMEC, to provide world-class operations and maintenance services in the industry in Ghana.
MODEC, which announced the development in a statement said it believes the merger of the two firms will deliver world-class service in Ghana to grow its oil and gas industry.
The formation of the new venture, MODEC Production Services Ghana JV Limited (MPSG), according to the press statement “is another step in our journey to build a strong a sustainable business in Ghana, demonstrate the benefits of synergies with local businesses while transferring world-class skills and knowledge to grow the industry and the economy”, said David Gleave, MPSG Board Chairman and General Manager. “This partnership will help us to deliver on our commitments to our client, key stakeholders, our workforce and the community”
Joseph Owusu, the CEO of JILMEC said “Our combined experience brings real value to this joint venture and will maximize MPSG’s ability and pioneering role in developing solutions to succeed in this market”.
Meanwhile, MODEC has announced the closure of business operations of its subsidiary, MODEC Ghana Limited (MGL), which it said will remain as the major shareholder of MPSG.
“All onshore and offshore business operations of the erstwhile MGL has transferred to MPSG,” the statement added.
About MODEC
MODEC has been providing competitive floating solutions for the offshore oil and gas industry and is recognized as a leading specialist for floating production systems such as Floating Production, Storage and Offloading (FPSO) vessels and Tension Leg Platforms (TLPs).
MODEC has an excellent track record of EPCI (Engineering, Procurement, Construction and Installation) as well as charter and operations projects.
About JILMEC
JILMEC is a partnership entity with a combined experience of over thirty years in engineering, maintenance, offshore operations, lifting, transport, global freight-forwarding, supply chain and logistics solutions in Oil & Gas and other Energy related fields.
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By: citinewsroom.com/Ghana