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Sumatec sets up O&G production subsidiary in Kazakhstan
by Cals Thu 11 Jul 2013, 20:41
Sumatec sets up O&G production subsidiary in Kazakhstan
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Thursday, 11 July 2013 18:12
KUALA LUMPUR (July 11): SUMATEC RESOURCES BHD [] plans to expand into the oil and gas (O&G) production field by setting up a subsidiary in Kazakhstan.
In a filing with Bursa Malaysia, the company, which specialises in the downstream O&G sector, said it had received approval from the Ministry of Justice of the Republic of Kazakhstan to incorporate a wholly owned subsidiary named Sumatec Oil & Gas LLP in that country.
“Its principal activity is to engage in exploration, production, operations, and processing of O&G,” the company said of the new subsidiary’s role.
The company hopes that the new subsidiary will have a positive impact on its earnings in the future.
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Thursday, 11 July 2013 18:12
KUALA LUMPUR (July 11): SUMATEC RESOURCES BHD [] plans to expand into the oil and gas (O&G) production field by setting up a subsidiary in Kazakhstan.
In a filing with Bursa Malaysia, the company, which specialises in the downstream O&G sector, said it had received approval from the Ministry of Justice of the Republic of Kazakhstan to incorporate a wholly owned subsidiary named Sumatec Oil & Gas LLP in that country.
“Its principal activity is to engage in exploration, production, operations, and processing of O&G,” the company said of the new subsidiary’s role.
The company hopes that the new subsidiary will have a positive impact on its earnings in the future.
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