Java Offshore acquires Asian Geos Sdn BhdCompany News // January 23, 2017
Java Offshore Sdn Bhd has completed the acquisition of a majority stake in Asian Geos Sdn Bhd, a specialist offshore geotechnical and geophysical service provider in the Asia Pacific market from Gardline Geosciences Ltd and Helms Geomarine Sdn Bhd.
The acquisition will further enhance Java Offshore’s existing portfolio of services through the addition of an offshore geotechnical and engineering capability focused in the oil and gas, marine renewables, marine civil engineering and telecommunication sectors.
The additional service offering creates value for customer by being able to reduce contractual interface risks whilst ensuring that its overall objectives of any related projects are met. The ability to undertake both geophysical and geotechnical services will also provide customers with a cost effective and integrated approach of acquiring, analysing and interpretation of data required for various engineering design and drilling requirements. In addition, said the company, the combined assets, resources and network locations will support for an improved responsiveness and reduced costs for customers within the region.
Rizal Shah, CEO of Java Offshore, said: “We are extremely optimistic and very pleased with this acquisition. The consolidation of both companies will allow for a more cost effective and efficient platform for growth especially in the current challenges of the oil and gas segment. On top of that, the ability to share Asian Geos’s technical knowhow and capability in geotechnical investigation and engineering will allow us to access new markets and ultimately provide more value for our existing and future customers."
Mohamad Helmi Zulkawi, Managing Director of Asian Geos,said: “The acquisition was a strategic decision which stemmed from our aspiration to expand our operations capabilities and realise long-term plans to enhance our offering in Malaysia and globally. This partnership gives us the opportunity to promote and securing more international businesses. It gives us the impetus to proceed with plans of enhancing our market share by leveraging on the groups experience and resources”.