ABU DHABI, UAE, December 4, 2018
ABU DHABI, UAE, December 4, 2018 /PRNewswire/ --
Bilfinger, the engineering and industrial solutions powerhouse and RATE, the California-based sour gas and Sulphur management technology licensor have signed an agreement to establish a Strategic Cooperation that would position both companies to accelerate growth in the Middle East region.
The agreement, in harmony with the strategic focus of the national oil companies in the Middle East, aims at maximizing the monetization of gas resources and harnessing the growth opportunities in the Oil & Gas sector.
"The Partnership is a great strategic fit, building on the two companies' complementary portfolio. We will together focus on delivering advanced solutions to our customers aiming at maximizing the value of their vast natural resources while creating unparalleled local value-add," Ali Vezvaei, President & CEO of Bilfinger Middle East commented.
Mahin Rameshni, President & CEO of RATE commented: "We are pleased to establish such an important partnership with a globally recognized company like Bilfinger. We strongly believe that our technology coupled with the strong knowhow and capabilities of Bilfinger enable us to provide the market with cutting edge solutions, in line with the strategic focus of our customers."
Bilfinger is a leading international industrial services provider. The Group enhances the efficiency of assets, ensures a high level of availability and reduces maintenance costs. The portfolio covers the entire value chain from consulting, engineering, manufacturing, assembly, maintenance, plant expansion as well as turnarounds and also includes environmental technologies and digital applications.
The company delivers its services in two business segments: Engineering and Technologies and Maintenance, Modifications & Operations. Bilfinger is primarily active in the regions Continental Europe, Northwest Europe, North America and the Middle East. Process industry customers come from sectors that include chemicals & petrochem, energy & utilities, oil & gas, pharma & biopharma, metallurgy and cement. With its 36,000 employees, Bilfinger upholds the highest standards of safety and quality and generated revenue of €4.044 billion in financial year 2017.