Tyco International Ltd announced that it has completed its acquisition of a 75 per cent equity stake in United Arab Emirates-based KEF Holdings Ltd. (KEF), an integrated valve manufacturer and provider of steel castings to the oil and gas, chemical, mining and power industries.
Abu Dhabi Gas Industries (Gasco) is recruiting hundreds of engineers and technicians as part of a major expansion.
Schlumberger concluded the acquisition of the remaining equity shares from Frank Mohn AS in Framo Engineering AS. The closing of the transaction is subject to regulatory approval.
Saudi Aramco signed a seven-year strategic partnership agreement with ITT Corporation to provide products and services to Aramcos oil, gas and petrochemical projects in Saudi Arabia and internationally.
Kuwaits Supreme Petroleum Council approved the upgrading of two of three existing refineries to raise output and produce cleaner products. The projects are estimated to cost US$29 billion.
