Asian Energy Services enters global O&M market with Kuiper acquisition

Asian Energy Services Limited (ASIANENE) announced that its wholly-owned subsidiary, Asian Oilfield & Energy Services DMCC (Asian DMCC), will acquire Kuiper Group through a share purchase agreement with Offshore Logistics Services Holdings Limited, the current parent company. The acquisition, valued at USD 9.25 million, will comprise 100% of the share capital of Kuiper Holdings Limited and Kuiper Group Limited. This strategic move allows Asian Energy Services to offer integrated operations and maintenance (O&M) services across the Middle East and Southeast Asia, leveraging Kuiper’s established presence in key energy-rich nations. Kuiper Group, which recorded revenue of USD 68 million in the year ending December 2024, is a profitable business, further strengthening the strategic value of the acquisition. The acquisition is expected to be completed within the next two months and is subject to regulatory approval from the General Authority for Competition in the Kingdom of Saudi Arabia.