Tech

The decline in oil prices could impact prospects for subsea processing (SSP) in deepwater production, according to market analysts Douglas-Westwood (DW)

UAE-based security and safety provider Olive Group has acquired East Africa’s risk management and security company Newport Africa

Olive Group provides global risk management services and analysis, mobile and static security, journey management, aviation, cyber and maritime security, mine action, expeditionary support and training in sectors such as energy, critical infrastructure and national security.

The acquisition would allow Olive Group to consolidate its position in East Africa, and offer a range of services to clients in the region.

Martin Rudd, managing director of Olive Group, said, “Newport Africa, like Olive Group, has focused on the development of class-leading compliant security solutions for the oil and gas sector and various governments. Our companies are particularly well-matched and we are very excited by the opportunities ahead of us.”

Newport Africa has been working with a set of specialists to assist energy companies in the East African region with risk management strategies.

Rob Andrew, managing director of Newport Africa stated that the company has quickly grown as a leading risk management company and the acquisition by the UAE-based Olive Group would enable the firm with technical and operational capabilities to serve clients better.

US-based FMC Technologies has received a contract worth US$393mn from Eni Angola to supply subsea production systems for its deepwater Block 15/06 East Hub development

Chinese oilfield service enterprise Kerui Petroleum Equipment Co Ltd has successfully increased production rate through nitrogen production and injection at an oilfield in China