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UPDATE 1-Key Energy Services in JV with Abu Dhabi's AlMansoori
March 8, 2010 / 12:27 PM / 8 years ago

UPDATE 1-Key Energy Services in JV with Abu Dhabi's AlMansoori

* JV AlMansoori-Key Energy Services LLC, to be in Abu Dhabi

* To provide services in N. Africa and Middle East

* Capital to be contributed once projects are identified

March 8 (Reuters) - Oil service provider Key Energy Services Inc (KEG.N) said it has formed a new joint venture with Abu Dhabi’s AlMansoori Specialized Engineering to provide well intervention services in the Middle East and North Africa.

The joint venture, AlMansoori-Key Energy Services LLC, headquartered in Abu Dhabi, will have Key Energy and AlMansoori initially contributing capital as projects are identified and secured.

The results of the venture will be consolidated by Key Energy, the company said in a statement.

Shares of Key Energy closed at $10.86 Friday on the New York Stock Exchange. (Reporting by Arundhati Ramanathan in Bangalore; Editing by Bijoy Koyitty) ((arundhati.ramanathan@thomsonreuters.com; within U.S. +646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: arundhati.ramanathan.reuters.com@reuters.net))

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