Kuwait’s Aref buys 51% of Sudan’s Higleig oil services
Sept 11, 2006 (KUWAIT/KHARTOUM) — Kuwaiti Islamic investment firm Aref Investment Group is buying 51 percent of Sudan’s Higleig Petroleum Services and Investment Co for about $60 million, the company said on Monday.
Aref Investment said in a statement posted on the bourse web site on Monday that it would restructure Higleig, a private company involved in oil exploration, drilling, services and general contracting activities.
Aref Investment will also team up with other investors to buy a Sudanese river transport company for $15 million.
The Sudanese Second Vice President Ali Osman Taha received Monday a visiting Kuwaiti delegation, headed by Chairman of the Board of Directors of Aref Investment Group, Ali Fahad al-Zumaiye.
Taha affirmed importance of encouragement of investment and the removal of any difficulty that face the Kuwaiti investments in Sudan.
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- Unpaid Debt A comprehensive overview of the role of the Lundin Consortium in the oil war. ECOS calls upon the Swedish, Austrian and Malaysian governments to investigate whether, as a matter of international law, Lundin, OMV and Petronas 'were complicit in the commission of war crimes and crimes against humanity by others during the period 1997-2003.’ In response, the Swedish Public Prosecutor for International crimes opened a criminal investigation into ‘links between Sweden and the reported crimes’.
- In Depth For more specific information about the Lundin court case please visit the Unpaid Debt dossier.
