Wellube Ventures Into New Geographical Markets With Caspian InterIndustrial Company
Wellube ventures into new geographical markets through key partnership with Caspian InterIndustrial Company
Wellube has recently announced a joint cooperation agreement with Kazakhstan-based Caspian InterIndustrial Company (CIC). The agreement will primarily cover the territory of Kazakhstan and will spearhead the establishment of a local office and workshop within the region to support the Oil and Gas sector, both onshore and offshore, as well as the Mining and Utility market sectors.
Caspian Interindustrial Company (CIC) is a recognised leader in the Republic of Kazakhstan for providing quality, cost-effective solutions to a number of challenges inherent in Kazakhstan`s oil industry. It offers a growing portfolio of services to oil and gas exploration companies.
The new agreement will focus on the promotion and deliverance of Wellube’s services to the market including hot tapping and line plugging, specialised machining applications, leak sealing and controlled bolting services, as well as drawing upon the Group’s wider support services.
The overall aim of the agreement will be to work towards establishing a Joint Venture company within Kazakhstan. This will enable the transfer of knowledge and assets to establish a 100% Kazakhstan-led entity focused on delivering international products and quality services to the local market.
On account of this partnership, Wellube’s Director, Steve Hague, commented, “ This is a very exciting and positive move by Wellube to expand and develop a foothold into the Eastern European/Eurasian market. We recognise the importance and benefits of developing a local entity in a country, and so, the transfer of knowledge is paramount in building a focused and sustainable business that is cost-effective, highly skilled, safety and compliance-focused, whilst being highly flexible in responding to client requirements.”
“The varied portfolio of Wellube covering a multitude of market areas and diversity of the Kazakhstan market will further enhance value to the local economy.”
Nurlan Chugayev, Head of Mechanical Services at CIC commented, “We’re pleased to have partnered with Wellube, a prominent integrated subsea and offshore solution provider. As a company, we’re focused on developing the offshore oil industry, its related infrastructure as well as the provision of marine and land-based seismic services to the local market. Partnering with Wellube was only imminent considering the broad range of services they offer and their eagerness to grow in this geographical region. We look forward to a fruitful association with Wellube.”
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