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SAJ Investment Acquires HEMA Energy Group

Source: Times of Oman 6/10/2019, Location: Middle East

SAJ Investment Company announced its acquisition of a controlling stake in HEMA Energy Group at a singing ceremony between the two parties.

Sheikh Nasser Bin Amer Al Hosni signed on behalf of the SAJ Investment in his capacity as the company’s CEO and Eng. Eyhab bin Adnan Al Hajj signed on behalf of HEMA Energy in his capacity as the company’s Group Managing Director. The Board of Directors of HEMA Energy welcomed the appointment of Sheikh Nasser Bin Amer Al Hosni as Chairman of the new Board.

Al Hosni stated that SAJ's strategy will be to position itself to have presence in the Sultanate's most prominent sectors; the acquisition of Hema Energy marks SAJ’s anchor in the prominent oil and gas sector.

Hema Energy, has its current activities spread within the energy sector from upstream to downstream, consulting as well as specialised industries and it will be SAJ’s investment arm in the oil, gas and renewable energy sector.

A restructuring and growth plan has been developed that will transform HEMA Energy into a sector leader by diversifying its services, specialised products and strengthening its current seven subsidiaries.

Al Hosni said that, “We at SAJ Investment are proud that HEMA Energy Group is a Omani company managed by young and ambitious team with a successful brief history that started in 2011.”

He also said that, “SAJ Investment is now reviewing several opportunities in various other sectors such as banking, tourism, logistics, health and education, to diversify its holding portfolio by acquiring well established active companies that can act as SAJ’s sectorial investment arms (anchors); following its successful anchor in the oil and eas sector through Hema Energy.”

Al Hajj, Group Managing Director of Hema Energy, expressed delight with the agreement and the partnership saying that, “We are proud to be part of the SAJ Investments and believe that this will contribute to the expansion, investment and business development plans of HEMA Energy Group."

"HEMA Energy Group has managed in a short period to establish its brand as a well diversified and highly integral group in the oil sector, which started with the use of technology and innovation in the extraction of heavy oil and grow to have presence and representative offices in China, the Gulf States and some European countries."

"Besides representing many international companies in the field of energy, Hema – through its expertise — offers unique tailor made solutions to the challenging operating environments faced by major operators and companies. Hema also owns a local factory whose products fall under the ICV programme at the Ministry of Oil and Gas,” he added.

Al-Hajj said: "As much as we are proud of where we are today in the brief company history, we are very excited about our future with SAJ, the Group has developed a five-year growth plan which not only builds on the Group’s unique offering of adding value to the local oil and gas industry, rather, aspires to mark a position of know-how in the international market."

"The Group's five-year plan includes significant developments in the areas of providing oil and gas solutions, renewable energy, petroleum consulting as well as developed a unique model for exploring, managing and producing potential concession areas, locally as well as internationally,” he added.

One of the most interesting developments of the Group, has been to spin-off a specialised R&D arm through partnering with European companies and academic institutes to develop and produce high-tech Omani solutions for the local and export market.

Al-Hajj concluded by saying: “Our believe in a growing sustainable strategic relationship goes beyond just finding the right partner — Relationships have to foster and grow stronger — by being accommodating, flexible and supportive to each other, dealings become simpler and growth becomes easier — Dealing with SAJ is dealing with ease.”

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  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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