Singapore-listed Jasper Investments has entered into management contracts with two oil and gas firms; Global Shipping and GoLNG. This is designed to capitalise upon Jasper’s experience to augment their services, as well as to supplement Jasper’s own existing oil and gas business units.
Jasper Investments is a holding company, which operates in two segments: offshore drilling and corporate services. It principally invests in the offshore oil and gas drilling and services sector through its subsidiaries and provides engineering and construction services.
Jasper also manufactures and trades building materials, trades, services and rents construction machinery and equipment, and develops and invests in properties.
Jasper’s principal subsidiary, Jasper Offshore, owns and operates oil rigs for deep sea drilling. These assets are contracted out to oil and gas exploration and production companies. Jasper Offshore owns and operates its own Mobile Offshore Drilling Unit, which includes jack-up rigs, a drillship and Mobile Offshore Unit (MOU), which is a column-stabilised accommodation unit.
Jasper will provide commercial management services to Global Shipping for a fee of $60,000 per month. GoLNG will also be granted commercial management services for $22,500, according to a company release. These appointments are effective from Monday, 6 July 2015.
Global Shipping is active in the transportation and logistics for oil and gas, specifically Liquefied Natural Gas (LNG) in Southeast Asia. Meanwhile, Indonesia firm GoLNG provides storage facilities, vessels and re-gasification plants.
Jasper Investments maintains a market capitalisation of $29.6 million, with 4.2 billion shares outstanding as of June 10, 2015, according to a Blomberg quote.