| Wed 18 Aug 2010, 12:33 | | LAF - Lonrho Plc - Lonrho`s West African oil service port attracts TENARIS as |
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LAF
LOLAF
LAF - Lonrho Plc - Lonrho`s West African oil service port attracts TENARIS as
major new tenant
LONRHO PLC
(Incorporated and registered in England and Wales)
(Registration number 2805337)
(Share code: LAF; ISIN number: GB0002568813)
(`Lonrho` or `The Company`)
Lonrho`s West African oil service port attracts TENARIS as major new tenant
Lonrho Plc (AIM : LONR) is pleased to announce that TENARIS and Luba Freeport
Ltd ("Luba Freeport"), a Lonrho subsidiary, have agreed to establish a logistics
facility for TENARIS at Lonrho`s Luba Freeport in Equatorial Guinea following
the formation of a strategic joint venture between TENARIS and GE Petrol, the
National Oil Company of Equatorial Guinea, to be known as `GEPnaris`.
TENARIS is a world leader in the supply of tubular products and related services
for the world`s energy industry and will provide products and services to the
oil companies operating from Luba Freeport and in the Gulf of Guinea. TENARIS
will operate from a temporary facility within Luba Freeport whilst a bespoke
10,000m2 storage and wash bay facility are completed by December 2010. The new
facility has been designed to easily permit TENARIS operations to expand up to a
60,000m2 facility at Luba to meet further contracts as the new facility at Luba
develops into a West African regional hub. Personnel accommodation and office
facilities will also be provided to TENARIS by Luba Freeport.
This additional new facility emphasises Luba Freeport as the port of choice for
the Equatorial Guinean oil industry. Focused on Luba Freeport`s ideal
geographical location and unique large deep water bay, the new service for the
supply of tubular products enhances Luba Freeport`s status as the `one stop
shop` for West African oil operations and underlines its advantages in providing
comprehensive oil services to the West African region.
Luba Freeport is a joint venture between Lonrho plc and GEPetrol, the National
Oil Company of Equatorial Guinea and benefits from naturally occurring deep
water conditions able to handle both oil field supply vessels and ocean-going
ships. Luba has some 350 metres of usable quay and existing clients at Luba
include: Hess, Exxon Mobil, Noble Energy, MI Swaco, Baker Hughes, Schlumberger,
CNOOC, Nalco and Marathon.
David Lenigas, Executive Chairman of Lonrho commented:
`We are delighted that TENARIS is yet another world class company that has
chosen Luba Freeport as a base to establish operations. Luba Freeport continues
to build on the range of services based at the port, and the arrival of a
leading tubular pipe supplier means that all the major services required for the
industry are now available from the one location, making Luba Freeport a highly
efficient port from which oil companies can operate.`
LONRHO ENQUIRIES
Lonrho Plc +44 (0)20 7016 5105
David Lenigas, Executive Chairman +44 (0)7881 825 378
Geoffrey White, Chief Executive Officer +44 (0)7717 307 308
David Armstrong, Finance Director +44 (0)7833 054 693
Pelham Bell Pottinger PR
Charles Vivian +44 (0) 20 7861 3126
+44 (0) 7977 297903
James MacFarlane +44 (0) 20 7861 3864
+44 (0) 7841 672 831
Beaumont Cornish Limited (Nomad)
Rosalind Hill Abrahams +44 (0) 20 7628 3396
Roland Cornish +44 (0) 20 7628 3396
South African sponsor
Java Capital +27 (0) 11 283 0089
18 August 2010
Date: 18/08/2010 12:33:01 Produced by the JSE SENS Department.
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