Kvaerner is looking at emerging markets

Nov 15, 1999 01:00 AM

Following the launch of Kvaerner's new strategy for world-wide oil and gas business, the company says it also aims to focus on international operations in emerging markets, taking the emphasis away from the North Sea province. Sources say the company's focus has turned to West Africa and the Gulf of Mexico. However, details will not be confirmed until early this year.
A company spokesman told that the group's two technology division, Oilfield Products and Process systems, will remain separate entities. He said, "We feel the time has come to divert our attention away from those areas in the North Sea and we are confident that these new areas of interest will, overall, allow a closer integration of the company's activities."

Source: IINX via Iinoil
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