DIALOG Group Berhad has acquired the entire equity interest in Tarpon Platform Systems Malaysia Sdn. Bhd. and all assets (tangible and intangible) of Tarpon Systems International II, LLC including all intellectual property held for use of the
business for a cash consideration of approximately USD 1.19 million (or approximately RM 5.5 million).
Tarpon Malaysia provides engineering, construction, installation, and maintenance services to upstream energy companies that use the Tarpon platform system. The system is a cost-effective alternative to traditional wellhead platforms and has been used extensively in water depths less than 90m.
The oil and gas company said the acquisition is in line with its strategy to continue to expand and diversify across the upstream, midstream, downstream, and renewable businesses of the energy sector, thereby increasing opportunities for synergies within the Group.
