Mubadala Petroleum sells interest in Petrofac Emirates | GulfNews.com

Mubadala Petroleum sells interest in Petrofac Emirates | GulfNews.com:

"Mubadala Petroleum has announced the sale of its 51 per cent interest in Petrofac Emirates to Nama Project Services LLC, an affiliate of Nama Development Enterprises for an undisclosed sum.
Completion of the transaction is subject to conditions, including the usual regulatory consents.
Mubadala Petroleum, through its subsidiary Mubadala Petroleum Services Company, formed the Petrofac Emirates joint venture with Petrofac International Limited in 2008 as the first UAE joint venture company to provide a full range of engineering, design, procurement and construction services for major onshore oil and gas, refining and petrochemical projects. This was in line with Mubadala’s mandate to establish and nurture new businesses within Abu Dhabi to diversify and build the economy."

'via Blog this'