The agreement, with an international oil company, underlines Atlas Development’s increasing penetration into the oil & gas support services market and its growing reputation with international blue-chip operators.

 

According to Atlas CEO Carl Esprey the multi-service agreement reflects the Company’s strategy of supporting early stage exploration activities with a view to securing and implementing long term development contracts.

 

“Atlas Development has its sights set on becoming the turnkey support services company of choice in East Africa, and today’s contract with another international oil company not only marks our transition in a new strategic jurisdiction, but also validates Atlas Development’s reputation as a quality and international standard operator,” says Esprey.

 

The contract also marks an entry point into a new country and complements the Company’s existing operational presence in Kenya, Ethiopia and Djibouti.  The Company is headquartered in Nairobi and has regional offices in the Turkana region of Kenya, Addis Ababa and Djibouti.

 

Esprey adds that this first contract in Mozambique could be the beacon for a new presence in the country.

 

“Mozambique, as with other countries in East Africa including Kenya, Ethiopia and Djibouti, holds a significant amount of potential for us.  We are therefore pleased to have secured this contract to support our client’s entry into Mozambique and believe that this initial agreement will pave the way for a long term strategic presence in the country.”

 

Mozambique is an important new territory for the Company as it is host to the development of multiple large scale oil & gas, mining and power projects, making it an ideal target for Atlas Development.

 

The company’s Board adds intends to further leverage its position as a market leader in the provision of turnkey support services and logistics solutions to additional operators within the burgeoning resource and power market in Mozambique.

 

This new contract comes even as the company prepares to dual list in the Nairobi Securities Exchange later in the month with Atlas saying discussions are in the final stages.

Source : OIL NEWS KENYA