MANILA, Philippines – Listed Basic Energy Corp has partnered with a Dubai-based group to identify business opportunities in the Philippines and overseas.
In a statement to the Philippine Stock Exchange, Basic Energy said signed on Wednesday a memorandum of understanding with Energy Services Group Ltd. (ESG), “covering an alliance to jointly identify and develop opportunities in the oil and gas business not only within but outside of the Philippines.”
ESG is engaged in the business of providing engineering, procurement, installation, construction and project management services in oil and gas operations.
Basic Energy and listed holding company Metro Pacific Investment Corp are also currently exploring a joint venture agreement to develop two ethanol facilities to meet the demand for a cheaper and cleaner fuel in the Philippines. – GMANews.TV
Source: http://www.gmanetwork.com/news/story/111859/economy/energy-firm-partners-with-dubai-company-to-identify-local-opportunities
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