Signing a new shareholders’ agreement was celebrated on Thursday 19 May 2016 between Bauer Resources GmbH (German company) and Synergy Petroleum International LCC on the one hand and Oman National Investments Development Company SAOC (TANMIA) on the other that inaugurates the latter’s entry as a new partner in Bauer Nimr LLC Company.
The partnership is considered a constructive step towards the expansion of Bauer Nimr LLC business scope and provides it with augmented resources and experiences. It is evident that Bauer Nimr LLC is aligned with the government through the Company’s efforts in protecting the environment while using state-of-the-art technologies in the service of the development process.
Bauer Nimr LLC started its operations in Oman in 2010 with a 20 year contract from Petroleum Development Oman (PDO) for the treatment of oil contaminated water from the oil extraction activities in some oil fields operated by PDO. The purification field used by the company at Nimr area is the largest and the first of its kind in the world to use reed beds as a technology for the separation of oil from water. The technology is cost effective which contributes to the reduction of the country’s oil production cost in addition to being environmentally friendly.
Bauer Nimr LLC is considered one of the leading companies in water treatment in the Sultanate, it is also considered a pioneer in terms of using new innovations in the field of treatment of oil contaminated water from oil extraction operations.
The company is considering coordination with BP Khazzan and Be’ah on waste management projects counting on the expertise brought from Bauer Resources GmbH – Germany, which has projects around the world in this area and others, to expand its operations with assistance from the Omani partners.
Sheikh Rashid bin Saif Al Saadi, CEO of TANMIA expressed his pleasure for completing this partnership with Bauer Nimr and said that this partnership confirms the Company’s commitment to harnessing its capabilities towards the Blessed Renaissance which was established by His Majesty Sultan Qaboos bin Said Al Said indicating that this partnership complements the investments made in the fields of tourism, industry, retail and real estate.
Mr. Peter Hingott from Bauer Resources GmbH welcomed the new partner and expressed his optimism as this partnership is expected to provide further impetus for the Company’s business. He also said that investment in the Sultanate has been a successful experience which is encouraging the company to expand its operations in different projects in waste management and water treatment and furthermore encouraged international investors to study available investment opportunities in the Sultanate and utilize the same.
Mr. Anthony Helou from Synergy Petroleum International LCC expressed his pride for taking part in establishing Bauer Nimr LLC since its inception given the achievements made by the Company over the years, and he hopes that this partnership will bring additional future successes to the Company.