Business News of 2014-06-17

Hydra Offshore explores new business opportunities

Hydra Offshore, an indigenous oilfield services company, has signed a partnership agreement with Alexander Comley Limited, a British-based manufacturing company and pioneer in stainless steel manufacturing in developing products for Ghana’s oil and gas sector.

Under the agreement Hydra Offshore Ltd. will partner Alexander Comley in the supply of customized flanges, pipes, tubes, fittings, plate, machined/turned parts and associated pipeline supplies.

In addition, Hydra Offshore will also lead in the introduction and promotion of Alexander Comley’s products and services in the oil and gas industry within Ghana.

The agreement is in response to the Petroleum Local Content Regulation, which began operating in February 2014.

Commenting on the agreement, the Chief Executive Officer of Hydra Offshore Mr. Delali Otchi said: “We are excited about this opportunity to partner one of the UK’s biggest brands with a long history of success in customised stainless steel manufacturing.”

He further stated that this agreement sets the tone for local indigenous firms to partner with global suppliers in developing the country’s oil and gas sector, and Hydra Offshore is committed to growing local talent in support of Ghana’s economic growth.

Miss Sonia Baiden, the Business Development Manager of Hydra Offshore, also envisages that the partnership between Hydra Offshore and Alexander Comley will become a major name in Ghana’s Oil and Gas industry and serve as a one-stop-shop for flanges, pipe, tube, fittings, plate, machined/turned parts and associated pipeline supplies for the Ghanaian national markets and beyond.

Managing Director of Alexander Comley, Mr. Chris Bourne-Hallett, commented; “We are delighted to partner Hydra Offshore and look forward to a mutually-beneficial relationship with them in this exciting venture into Ghana’s oil and gas sector.”

Mr. Andrew Johnson, Business Development Manager of Alexander Comley who negotiated the partnership with Hydra Offshore, added: “This is the first stage in our support of local content, and we are thrilled to have reached this agreement with Hydra Offshore, a pre-eminent business within Ghana”