Woodlands Holdings (Woodserv) signed a Joint Venture with Arab Shipbuilding & Repair Yard (ASRY) on Oct 21, 2020. The agreement was signed by ASRY managing director Mazen Matar and WoodServ chief executive Sam Kawa in the presence of HE Shaikh Mohammed bin Khalifa Al Khalifa, Minister of Oil, Kingdom of Bahrain.
Under the agreement, the partners will combine ASRY’s local capabilities and facilities with WoodServ ’s expertise in bringing US technology and optimization solutions to Bahrain thereby creating a local center of excellence. The JV will develop turnkey solutions to maximize recovery from marginal oil and gas assets and accelerate production from unconventional resources.
Shaikh Mohammed said the agreement enables the use of world-class solutions and services for enhancing the competitiveness of the process of oil and gas extraction in the kingdom. Mr. Kawa said WoodServ would benefit from the collaboration with ASRY, which has engineers with extensive experience in design, construction, operation and maintenance.