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OSRL & Bayfield Oil Services Announce Joint Venture Agreement

Source: www.gulfoilandgas.com 11/15/2017, Location: Africa

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Oil Spill Response Limited (ORSL), the largest international industry-funded cooperative, and Ghana’s Bayfield Oil Services, today announced the establishment of a joint venture. The new strategic alliance, which will be named OSRL Ghana Limited, will see the two companies sharing their expertise and resources. OSRL will expand its current in-county presence for oil spill preparedness services, including the provision of specialist personnel to members, consultancy services, training and equipment hire. Bayfield’s role will focus on its local expertise and experience of operating in Ghana, as well as providing local content and access to facilities in Accra and Takoradi.

OSRL has been providing its members with a comprehensive range of response, consultancy and training services for 30 years, with five years’ direct involvement in Ghana providing local support, equipment hire, maintenance services, training, and Tier 2 Aerial Surveillance and Dispersant Spraying Services (WACAF). By combining this expertise with the significant Ghanaian market presence of Bayfield, the joint venture will provide clients with the experience, knowledge and resources needed to manage any requirement.

Both companies have a strong reputation for health and safety, ensuring that projects are delivered safely, without incident, on time and to the highest industry standards.

“We are very excited about the growth opportunities for OSRL Ghana. As a leading provider of unique oilfield services, Bayfield is the ideal partner to help spearhead our expansion into this burgeoning market, enabling us to develop a better understanding of industry developments and providing improved access to smaller, local operators.

“OSRL Ghana will be well positioned to support our existing members and new exploration and production operators, as well as other sectors of the oil and gas industry. Overall, we are confident that this joint venture will bring important synergies and expand our service offering in this market,” commented Robert Limb, Chief Executive of OSRL.

Philip Yebesi, Executive Chairman of Bayfield Oil Services, added: “Like OSRL, Bayfield Oil Services constantly invests in continuous innovation and improvement, and this new joint venture is an important part of our long-term strategy. There is significant growth potential for the provision of preparedness services within Ghana and the country is now the 11th largest oil producer in Africa. We’ve witnessed a surge of interest in exploration blocks and a drive in small terminal operators catering for ship bunkering and oil transfers. All of which reflects the significant potential we see in this marketplace, working with a true industry leader in OSRL.”

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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