DE RAJ GROUP AG
DGAP-News: De Raj Group AG / Key word(s): Alliance De Raj Group AG, Germany, is entering into a Strategic Alliance Agreement with Oiltech Engineering of India Cologne, 4 June 2019: De Raj Group AG (ISIN: DE000A2GSWR1) is pleased to announce the strategic alliance agreement paving way for a takeover of Oiltech Engineering Pvt Ltd of India. Oiltech Engineering is in the business of design & engineering and project management of upstream Oil & Gas Projects. Oiltech Engineering (India) Private Limited is a Chennai, India registered company with an outstanding track record in multi-disciplinary Design & Engineering and EPCM (Engineering, Procurement and Construction Management) support services for the upstream, offshore Oil & Gas industry, especially floaters. Oiltech has done Front End Engineering for several projects as well. Also offered are solutions like Floating Power Plant, Floating Desalination Plant, Floating Storage and Regasification Unit (FSRU), Floating LNG (FLNG) and Mobile Offshore Production Unit (MOPU) for early production. The company has also worked on upgrading Jack Up Drilling Rigs and Fixed Offshore Platforms. Over the last decade, Oiltech has designed more FPSO (Floating Production Storage & Offloading) topsides than most leading consultants worldwide delivering 10 FPSO conversions & 1 FSO conversion across nine countries in four continents including the harsh waters of UK North Sea and stringent health & safety case of Australia. Oiltech did projects for Nigeria (2x FPSOs), India (2x FPSOs), Malaysia (1x FSO), Vietnam, Indonesia and Persian Gulf. Oiltech engineered the USD 1.6 billion capex VLCC (Very Large Crude Carriers) conversion project for Eni for Angola 15/06 moored with the world's heaviest external turret in 400+ meter deep waters. Oiltech's modular design expertise spans 100+ modules of various functionalities. Oiltech has closely worked with shipyards in Singapore, Middle East and China. The company has also worked with international Classification Societies like Lloyd's Register, DNV GL, American Bureau of Shipping etc. For more information please visit the corporate websites: https://www.thederajgroup.com http://www.oiltech.in About the De Raj Group: The De Raj Group AG is listed in the market segment "Standard Market Auction" on the EU-regulated market (Amtlicher Handel) of the Vienna Stock Exchange (Wiener Börse) since Feb 8th, 2018. The shares are also listed since March 23rd, 2018 at the Open Market in Frankfurt / Main and at XETRA of Deutsche Börse AG. The De Raj Group is strong in the Oil & Gas sector and Power Generation sector, where it owns and operates strategic equipment/facilities in both of these sectors which are provided on mid-to long-term lease to the market. In the Power sector, it was involved in both conventional power generation and CHP (Combined Heat and Power) generation. The Group is embarking on an international expansion plan in the Middle East and the Asia Pacific region. The Oil & Gas division of the Group provides specialist services supported by IP patents for the full spectrum of the upstream Oil & Gas supply chain, particularly in the South East Asian region. The Group owns a diversified portfolio of assets comprising jack-up rigs and topside equipment. These jack-up rigs, with the readily available equipment can be modified quickly to suit client requirements for offshore facilities in the development of marginal fields, including as well enhancement of production in producing fields. This supports very well Oil companies desire for early monetisation of hydrocarbon with cost effective solutions. For further information: De Raj Group AG, Investor Relations, mailto: ir@thederajgroup.com
04.06.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | De Raj Group AG |
| Christophstr. 15-17 | |
| 50670 Cologne | |
| Germany | |
| Phone: | +49 221 299 85 07 |
| Fax: | +49 221 299 85 08 |
| Internet: | www.thederajgroup.com |
| ISIN: | DE000A2GSWR1 |
| WKN: | A2GSWR |
| Indices: | WBI Wiener Börse Index |
| Listed: | Regulated Unofficial Market in Frankfurt; Vienna Stock Exchange (Official Market) |
| EQS News ID: | 818957 |
| End of News | DGAP News Service |
818957 04.06.2019
