Rex International Holding and Monarch Marine Holding plan to form a joint venture company.
(Courtesy Masirah Oil)
Offshore staff
SINGAPORE – Rex International Holding and Monarch Marine Holding (MMH) plan to form a joint venture company, owned 80.1% by MMH and 19.9% by Rex.
This would own marine assets, including MOPUs, that could be deployed for Rex’s offshore oil exploration and production activities.
Direct ownership of these facilities, Rex said, would give it greater control over maintenance and would be more economic in terms of operational risks and uptime.
