Tasman Oil Tools and Olio Announce Joint Venture

Tasman Oil Tools (a subsidiary of Northbridge Industrial Services plc) has teamed up with Olio Resources Sdn Bhd to provide a new joint venture entity, Olio Tasman. With the combined expertise and resources of both companies at its disposal Olio Tasman will supply drilling rental tools, wellbore clean-up and pressure control solution the South-East Asian region.

Eric Hook, CEO of Northbridge Industrial Services plc commented:

“This is a very important step for Tasman and Northbridge in general. It shows that, even during the downturn, we are expanding our geographical offering, with South East Asia forming a bridge between current Tasman activities in Australasia and the Middle East. OLIO provide an excellent partner for us, with some key contracts in place and we look forward to a long and prosperous relationship with them, sharing key assets and skills to provide first-class service to our customers.”

Dato’ Ramli Md Nor, Group Executive Chairman of OLIO stated:

“We are delighted to be working with Tasman in this new venture and see this as a pivotal step to OLIO being able to offer some real value, in our home and surrounding markets, whilst strengthening our ability to provide world class services. We are increasing our local and regional content to service our markets, with high focus on quality, health and safety and driving up the industry standards, to the benefit of our valued clients.”

Source / More: Tasmanoiltools

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