Doha-based oil and gas industry engineering service provider, Petroserv, has announced its entry into the Australian liquefied natural gas (LNG) sector through an equity investment with Queensland-based Bothar Boring
According to a report on Qatari news daily The Peninsula, through this investment, Petroserv will combine its long history and experience of contracting in the oil and gas and infrastructure sectors in Qatar with the similar sector expertise it has identified in the Bothar group.
The investment is the first significant one by a Qatari company in the Australian oil and gas market.
As part of the deal, under which Petroserv acquired a 49 per cent share in Brisbane-based Bothar Boring & Tunnelling, Petroserv will back its investment with more funding for greater expansion into Australia’s gas sector.
The Petroserv International group of companies in Australia and the Asia-Pacific region will focus on oil and gas pipelines, engineering and fabrication solutions as well as below ground infrastructure, supported closely by the micro-tunnelling business of Bothar Boring. A part of the metal fabrication work will be sub-contracted to Petroserv in Qatar.
