Kenya-headquartered Atlas Development has been awarded its first contract in Tanzania. It will be providing turn-key support services, including workforce accommodation, facilities management, medical infrastructure, and logistical support to an international drilling company which is commencing activities in the Ruvuma Basin.
This contract increases the company’s operational footprint to five countries in East and Southern Africa. It now has operations in Ethiopia, Djibouti, Mozambique, Tanzania and its anchor operations and headquarters in Kenya.
Carl Esprey, CEO of Atlas Development, said: “The signing of this significant contract underpins the value of our turn-key service offering and demonstrates the momentum that Atlas Development is generating as a leading turn-key support services provider in East and Southern Africa.”
Tanzania represents a strategic growth opportunity for Atlas Development with increased on-shore exploration and development in oil & gas and mining.
Carl Esprey says, “Tanzania’s offshore exploration has been well documented. We’re now seeing a lot more on-shore exploration and development activity in the pipeline.”
The Company announced on 13 October 2014, that it intends to dual list on the Growth Enterprise Market Segment of the Nairobi Securities Exchange, by way of an introduction. Completion of the Kenyan Listing will make Atlas Development the first AIM listed company to join the Kenyan exchange.
Carl Esprey says, “The East and Southern Africa region continues to hold significant potential for Atlas Development and our investors, as it plays host to some of the lowest cost oil developers globally. Furthermore, Tanzania, and East Africa as a whole, is an important destination for many mining companies in addition to upstream power generators. Atlas Development provides a full spectrum support services solutions, ensuring our investors will gain exposure to all facets of industrial development.”