Oil States forms crane JV to support oil and gas operations offshore India

Source: Oil States

Oil States International, Inc. (NYSE:OIS) has entered into a joint venture agreement with G&T Oilfield and Offshore Services Pvt. Ltd. (GTO), a privately-held Indian company. 

The new venture, G&T Oil States Industries Private Limited, will be headquartered in New Delhi, with operations including state-of-the-art facilities based in Navi Mumbai, to provide comprehensive design, manufacturing, sales and service for Nautilus Marine Offshore Pedestal Cranes and King Post Cranes (under a Licensing Agreement with Patriot Cranes LLC). 

The new venture will initially operate out of the current GTO facilities in Navi Mumbai until a newly designed 10,914 square meter complex can be completed in Navi Mumbai. The complex, expected to be operational in mid 2011, will include a three-story office building equipped with a 50-seat training auditorium to facilitate training for Crane Operators and Crane Maintenance. A 75-tonne crane test stand will also be installed for function testing, and full load testing capacity on-site.

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