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Shoreline Energy acquires QITC Ltd
By MATTHEW OTOIJAGHA
Shoreline Energy International, a leading infrastructure and energy group, whose focus is on sub-Saharan Africa has acquired 60 per cent majority stake in Quality Inspection Testing Certificate Limited (QITC).
A statement issued by the company Tuesday said, “Shoreline today announced the closing of its acquisition of a majority stake in QITC, a subsidiary of Nigerian Ropes Plc.
The acquisition, according to the statement, complemented the group’s existing interests in Schlumberger Testing and Production (Nigeria) and further consolidates its drive into the oil and gas services industry in the Gulf of Guinea.
Mr. Kola Karim, Chief Executive of the company, explained that inspection certification and quality management services would play an increasingly important role in the oil and gas and construction industries in Africa.
According to him, “this acquisition positions us well to exploit the growth we are seeing across the Gulf of Guinea and further cement our place as an integrated solutions provider within the infrastructure and energy sectors.”
Shoreline is a leading energy and infrastructure group operating in Africa. The company has grown rapidly through acquisitions of companies amongst which include: ABB Electrical Systems (Nigeria), Costain (West Africa), Schlumberger Testing and production (Nigeria).
Services provided by QITC include quality driven inspection and testing services, in conjunction with relevant certification covering drill stem; ring components and lifting equipment for the construction, gas and oil services industry.
QITC was established in Nigeria by a team of professional oilfield engineers and Nigerian Ropes Plc, combining many years experience in Nigeria’s oilfield service sector and extensive knowledge of international energy standards and their effective implementation, which are increasingly important in Nigeria.
“We are very excited about working with Shorelines management team as we gear up for the significant opportunities across sub-Saharan Africa,” said Tom George, Managing Director of QITC.
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