Kencana to venture into drilling business

Kencana Petroleum Bhd. plans to form a 60:40 joint venture with Thailand's Mermaid Maritime Group to invest in offshore drilling rigs and drilling related activities in Malaysia.

Offshore staff

KUALA LUMPUR, Malaysia -- Kencana Petroleum Bhd. plans to form a 60:40 joint venture with Thailand's Mermaid Maritime Group to invest in offshore drilling rigs and drilling related activities in Malaysia.

Kencana says the agreement would allow the company access to Mermaid Maritime's technology, expertise, experience, and resources in drilling and drilling related services.

9/21/2007

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