Tanmia acquires 30 per cent stake in Bauer Nimr

Business Thursday 19/May/2016 13:19 PM
By: Times News Service
Tanmia acquires 30 per cent stake in Bauer Nimr

Muscat: A shareholders’ agreement was signed between Germany-based Bauer Resources, Synergy Petroleum International and Oman National Investments Development Company (Tanmia), which allowed Tanmia as a new partner in Bauer Nimr LLC Company.
Bauer Nimr LLC, which is one of the leading firms in water treatment in the Sultanate, 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.
“We have acquired 30 per cent of Bauer Nimr. The total equity (of Bauer Nimr) is around $100 million,” Rashid bin Saif Al Saadi, chief executive officer of Tanmia, told the Times of Oman on the sidelines of the signing ceremony.
Bauer Germany has 49 per cent ownership in Bauer Nimr and the rest is held by Synergy Petroleum.
The partnership is considered as a constructive step towards the expansion of Bauer Nimr business scope and provides it with better resources and experience. 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 separation of oil from water. The technology is cost-effective, which contributes to the reduction of the country’s oil production cost in an environmentally friendly manner.
Bauer is considering coordination with BP Khazzan and Be’ah on waste management projects counting on the expertise brought from Bauer Resources, Germany, which has projects around the world in this area and others. It is also planning to expand operation with assistance from Omani partners.
Peter Hingott from Bauer Resources expects 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.