KOTUG and Petroconsult join forces to establish KOTUG PETRO Maritime (KPM)
Leading global towage company KOTUG International BV has signed an agreement with Petroconsult to create a joint venture company called KPM. The partnering companies have been awarded a long term contract with SUMED to provide operational services and carry out towage operations including FSRU operations at their Ain Sukhna terminal located in the Red Sea, Egypt.
KOTUG provides SUMED with two newly built state of the art 80 tons Rotortugs to carry out these operations.
The newly formed company KPM is owned for 80% by KOTUG and for 20% by Petroconsult and is established in Egypt with its headquarters in Alexandria, Egypt. The company’s mission is to provide maritime services to Egypt’s oil, gas and other terminals, ports to improve the quality of services. KPM will combine KOTUG’s knowledge and leadership skills with Petroconsult’s strong local footprint and experience in the region. KPM is deploying two tugboats to execute the services to SUMED. In line with KOTUG’s aspiration to support local content both tugboats will be operated by native Egyptians supported by local shore staff.
The tugs have commenced services in October 2018.