Global tug operator, Rotterdam-based Kotug International, and Egypt’s Petroconsult have joined forces to establish a new company called Kotug Petro Maritime (KPM). Already the venture has achieved a notable success in being awarded a long-term contract by the Arab Petroleum Pipelines Company (SUMED).
Through this contract the joint venture will provide a range of services and carry out towage operations, including FSRU operations, at SUMED’s Ain Sukhna terminal on the Egyptian Red Sea coast. Kotug has already provided two newly built 80 tons bollard pull capacity Rotortugs to carry out these operations and both vessels will be operated by Egyptian seafarers and supported by local shore staff.
KPM is owned 80% by Kotug and 20% by Petroconsult and will have its headquarters in Alexandria. The company’s aim is to provide maritime services to Egypt’s oil, gas and ports sectors, to improve the quality of services available to customers.
Ard-Jan Kooren, chief executive of Kotug International, commented: “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.” Petroconsult is one of the oldest oil and gas services and engineering companies in Egypt and an experienced provider of offshore and marine services in Egypt.