Abraaj eyes Canadian oilfield unit
Dubai, February 28, 2012
A consortium led by Dubai-based Abraaj Capital and US private equity firm Dalea Partners are in talks to acquire the oilfield services business of leading Canadian energy firm, TransAtlantic Petroleum.
A leading private equity firm in emerging markets, Abraaj Capital said the proposed transaction for Viking International and Viking Geophysical Services presents an opportunity to back a strong management team with a proven track record in a growing industry.
Viking is a fully integrated oilfield service company committed to providing services to the oil and gas industry with the goal of exceeding the exploration needs of operators.
It currently maintains operations within the regions of Turkey, Bulgaria, and Romania, with expansion plans into geographically strategic underserviced emerging markets, said Abraaj in a statement.
Services are available in a variety of forms, ranging from single service jobs to total project management in which contracts can be tailored from day-rate to complete turnkey contracts, it added.
'Working with N. Malone Mitchell, 3rd, who has over 25 years of experience and a track record in the oilfield services sector, Abraaj Capital will facilitate and support Viking management in expanding its footprint across its target markets,” remarked Ahmed Badreldin, senior partner at Abraaj Capital.-TradeArabia News Service