PARIS, July 5 French water and waste group
Veolia Environnement said on Friday it sees sales in
its oil and gas services business rising to as much as 5 billion
euros ($6.5 billion) in the next four to five years from 1
Veolia, whose activities include managing water in oil
wells, dismantling offshore platforms and cleaning storage
tanks, is particularly keen to target the shale gas industry,
Chief Executive Antoine Frerot said.
"The oil and gas industry is seeing rapid growth," Frerot
told reporters at a briefing on Friday. "The ... sector will go
faster than others, and the billion we have today will be more
like 4 to 5 billion ... in line with our four-year goals."
The change in focus to the oil and gas sector is part of
Veolia's strategy to raise its presence in emerging markets and
win more business from industrial clients who account for 30
percent of its 25 billion euros in annual sales.
It wants to increase that to half by 2018. Its other revenue
comes mainly from municipal authorities that buy water and waste
In addition to the oil and gas sector, Veolia is targeting
10 percent annual growth in the next four to five years at its
toxic waste unit, which has turnover of about 800 million euros.
The business includes recycling lithium from batteries,
vanadium from industrial catalysts and the solvents used to
dilute car paint.
Veolia has meanwhile been withdrawing from half the
countries it operates in and selling assets - unwinding a decade
of geographic expansion and acquisitions - to reduce its 10
billion euros of debt.
($1 = 0.7744 euros)
(Reporting by Benjamin Mallet; Editing by Louise Ireland)