PetroServices eyes expansion into the East African market

German oil field supplier and service provider PetroServices has said it is looking into opening an office in Kenya to tap into the expanding oil and gas sector.

According to Business Development General Director at PetroServices Dr. Hesham Khalid the expansion to either Kenya or Tanzania will occur in the fourth quarter of 2014 once the company completes an ongoing market research to weigh on the potential by each country.

The company that deals in standard mud logging, rig monitoring services, field Drilling Technique (FDT), consultancy services among others wants to create an avenue to channel its products that are lacking in the growing oil and gas sector in the East African market.

In Eastern Africa the market has its products in Puntland in partnership with Canmex Holdings (Bermuda) II Ltd. in two large oil exploration licenses encompassing the Dharoor and Nugaal Valleys with the country is being serviced from the Dubai office.

“The company is quite keen to step into East Africa whether in Tanzania or Kenya with the decision likely to be reached before the end of the year,” says Dr. Hesham.

Besides East Africa the company has a presence in the continent in Egypt, Libya, Algeria and Sudan.