KOTUG and Petroconsult join forces to establish KOTUG PETRO Maritime (KPM)
KPM awarded a long term contract by Arab Petroleum Pipelines Company SUMED
Leading global towage company KOTUG International BV has signed an agreement with Petroconsult to create a joint venture company called KPM. The partnering companies have been awarded a long term contract with SUMED to provide operational services and carry out towage operations including FSRU operations at their Ain Sukhna terminal located in the Red Sea, Egypt.
KOTUG provides SUMED with two newly built state of the art 80 tons Rotortugs to carry out these operations.
The newly formed company KPM is owned for 80% by KOTUG and for 20% by Petroconsult and is established in Egypt with its headquarters in Alexandria, Egypt. The company’s mission is to provide maritime services to Egypt’s oil, gas and other terminals, ports to improve the quality of services. KPM will combine KOTUG’s knowledge and leadership skills with Petroconsult’s strong local footprint and experience in the region. KPM is deploying two tugboats to execute the services to SUMED. In line with KOTUG’s aspiration to support local content both tugboats will be operated by native Egyptians supported by local shore staff.
The long term cooperation with SUMED demonstrates the strength of this new partnership.
Ard-Jan Kooren, CEO of KOTUG International: “We are looking forward to cooperate with Petroconsult and to start activities with our new partner in a familiar sector in the Middle East. The partnership represents a strong alliance between two industry experts. KPM aims to leverage the impressive reputation, experience, technology, and practical “know how” of KOTUG International and Petroconsult.” Petroconsult is one of the oldest oil and gas services and engineering companies in Egypt and an experienced provider of offshore & marine services in Egypt.
The tugs have commenced services in October 2018.