KUALA LUMPUR (Feb 6): Enra Group Bhd says its new joint venture (JV) with Australia's Icon Engineering Pty Ltd will focus on offering cost cutting oilfield services. He said the partnership with Icon Engineering is intended to bring forth to these players out-of-the-box ideas which the Perth-based company has successfully proven in its 20-year track record. Icon (Engineering) will add our 20+ year experience and technical know-how in successfully executing projects in Malaysia and elsewhere," he said. Enra had announced the formation of the JV on Jan 5, between its unit Enra Oil & Gas Services Sdn Bhd (EOGS) and Icon Engineering's unit Icon Oilfield Solutions Sdn Bhd. EOGS has a 70% stake in the JV, while Icon Oilfield holds the remaining 30%.

Source: The Edge Markets February 06, 2017 08:26 UTC