HEMLA PARTNERS WITH ABU DHABI'S PETROMAL TO EXPLORE MUTUAL INTERESTS IN OIL AND GAS
Abu Dhabi based Petromal, a subsidiary of National Holding, and Hemla entered into a cooperation to explore opportunities of mutual interest in the oil and gas sector. Our cooperation is based on significant synergies between the companies, as well as shared vision for building competence.
Petromal is the oil and gas arm of National Holding focusing on upstream, downstream and petroleum services and covers oil and gas exploration & production, distribution, refining, petrochemicals, oil field services, engineering, construction, and fabrication and minerals. National Holding is one of Abu Dhabi’s leading privately owned conglomerates maintaining a multi-billion dollar investment portfolio of companies operating in the financial, industrial, property development, general trading and oil & gas sectors worldwide.
Hemla is a Norwegian based company with a long history of developing gas, LNG, re-gas related projects in Africa, MENA and the Americas with partners that include Norway’s Statoil and South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME), and lately a LNG and LPG project related to flare gas capture in Iran, in addition to trading activities.
Through its balanced and politically neutral business model inspired by the Norwegian oil and gas industry, Hemla provides “added-value” chain solutions, including end-to-end structuring of the full hydrocarbon production value chain, promoting local capacity building through industrial training, structuring of the organization into all component parts of the process, financing, securing transfer of technology and “know-how” thus enabling its partners and NOCs to monetize hydrocarbons for both domestic use and export market.
Our partnership, which will expand the cooperation between Norway and UAE focuses on investment into hydrocarbons and renewable energy.
Norway and UAE have a history of successful collaboration. More than 100 Norwegian companies are operating in the UAE being represented by major companies such as Wilhelmsen Ships Services, Statoil and DNV-GL.
Petromal and Hemla are committed to be good corporate citizens around the world, recognizing our responsibility to work in partnership with the communities in which we operate to build local competence and make a difference.