The new company, Hill International Petrol (Egypt) Ltd., will be owned 50% by Hill and 50% by the Ministry of Petroleum's subsidiaries.
"This new joint venture will allow Egypt to bring Hill's project management resources and capabilities to projects throughout Egypt and the surrounding region, as well as to help develop a pipeline of work for Hill into the expanding oil and gas sector," said Irvin E. Richter, Hill's Chairman and Chief Executive Officer. "We believe that EGAS and GASCO are the ideal partners to help us make this new company successful as they will provide many of the technical resources necessary to help manage these projects," Richter added.
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Hill International and Egyptian Ministry of Petroleum enter agreement to create new joint venture company
- Egypt: Tuesday, June 24 - 2008 at 12:23
- PRESS RELEASE
Hill International, the worldwide construction consulting firm, announced recently that it has entered into an agreement with the Egyptian Natural Gas Holding Co. (EGAS) and the Egyptian Natural Gas Co. (GASCO), two subsidiaries of the Egyptian Ministry of Petroleum, pursuant to which they will form a new joint venture company that will provide project management services primarily on oil and gas projects throughout the Middle East and Africa.
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EGAS was established to organize and diligently handle the activities of the natural gas resources of Egypt in order to add value to the Egyptian economy. EGAS's mission is to create a gas reserves base, establish natural gas infrastructure, and expand local energy markets utilizing natural gas. For more information on EGAS, please visit their website at www.egas.com.eg.About GASCO
GASCO is the operator of the natural gas transmission grid in Egypt, a 4,700-kilometer network of gas pipelines that connects producers and consumers of natural gas throughout Egypt. GASCO's mission is to use state-of-the-art technologies in the construction, operation, management and maintenance of the gas grid as well as in gas processing and the extraction of gas valuable components. For more information on GASCO, please visit their website at www.gasco.com.eg.
About Hill International
Hill International Construction Consultancy Group (ISO 9001 approved), provides construction consultancy, commercial management, audits, programming, planning and other construction claims services.
Hill International, with 1,900 employees in 70 offices worldwide, provides program management, project management, construction management, development management and construction claims services. Engineering News-Record magazine recently ranked Hill as the 10th largest construction management firm in the United States.
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Posted by Anne-Birte Stensgaard, Senior News EditorTuesday, June 24 - 2008 at 12:23 UAE local time (GMT+4)
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