VINCI strengthens its position in Asia’s oil and gas industrywith the acquisition of Indonesian company PT Istana Karang Laut (IKL)
4 May 2015 - 5:54 pm - Acquisitions - Indonesia
Entrepose, a VINCI subsidiary, has completed the acquisition of Indonesian company PT Istana Karang Laut (IKL).
IKL is a recognised player in the upstream and downstream sectors of Asia’s oil and gas industry. It has expertise in both onshore and offshore activities, notably through the design and manufacture of oil and gas production process modules and metering systems, as well as turnkey project management under EPC (engineering, procurement, construction and commissioning) contracts.
The company has 130 employees and generates revenue of around €30 million.
“This acquisition confirms Entrepose’s strategy to expand geographically and diversify its activities. IKL opens up markets for us in Central and South-East Asia, where demand for energy is increasing strongly and where resources have not yet been totally exploited. The company also brings us products and services in the downstream sector of the oil and gas industry. An excellent illustration of this is the contract signed on 27 April 2015 between IKL and SGFL, a state-owned company in Bangladesh, for the design, construction and commissioning of a condensate fractionation plant,” says Benoît Lecinq, chairman of Entrepose.
The acquisition also illustrates one of VINCI’s main strategic priorities: to expand in activities with high technical content in regions of the world that have strong growth potential.
Entrepose, an international entrepreneur, designs, builds and operates production, transport and storage infrastructure for the oil and gas industry, as well as for other energy sources. It works all over the world on onshore, offshore and underground projects:
• delivery of turnkey industrial, onshore and offshore facilities;
• installation of onshore and offshore pipelines;
• drilling for oil, gas, geothermal energy and water wells;
• construction and operation of underground storage sites.
Entrepose generated revenue of €835 million in 2014 and has over 3,500 employees worldwide.
VINCI is a global player in concessions and contracting, employing more than 222,000 peoplein nearly 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, above and beyond economic and financial results, we are committed to operating in an environmentally and socially responsible manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. VINCI’s goal is to create long-term value for its customers, shareholders, employees, and partners and for society at large.