Germanischer Lloyd Announces Acquisition in Texas

The world’s oil and gas industry spending is expected to rise to $480 billion in capital expenditures and $340 billion for operations until 2010. In the past years, production of oil and gas has increased considerably. Oil and gas prices are rising, based on the expectation that supplies will continue to diminish while worldwide energy demand will keep growing. The need to exploit much more challenging environments, such as greater sea depths and colder climates, is driving the spending. Major oil and gas companies are increasingly demanding high technology support in accessing these resources while simultaneously minimizing safety risks and keeping costs at bay.

Technical assurance, asset integrity management, risks & safety consulting and software solutions are the classical domains of the service provider for the oil and gas industry Germanischer Lloyd. In the past year, companies in the UK, USA, Canada and Malaysia have joined the group. “With a new acquisition, we are further expanding our technical service portfolio in the United States, the Gulf of Mexico as well as around the world”.

Germanischer Lloyd would like to invite you to a press conference to announce a major acquisition in Texas.

The press conference will take place on Wednesday, September 10th, 10 a.m. – 10:45 a.m. at the Hotel Westin Oaks, 5011 Westheimer at Post Oak in Houston / Texas. Speakers: – Pekka Paasivaara, Member of the Executive Board Germanischer Lloyd

– a high ranking company representative of the acquired company