Subscribe to our news feedWill oil and gas recruitment be affected by new merger?
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Published on Wednesday 4th November 2009
Oil and gas recruitment may be affected by news that Londonlisted Dragon Oil looks set to be taken over by Emirates National Oil Company (Enoc). The latter firm has asserted it will pay £1.15 billion for the 48 per cent of the former that it does not already own. Providing the merger goes through, it will be one of the largest deals of its kind on the UK market during 2009. In June this year, Enoc began discussing the possibility of taking over Dragon and said it would help to boost its international presence. Chief executive of the company Saeed Abdullah Khoory was quoted in the Times as asserting the merger "fits Enocs aim to become a vertically integrated oil and gas group". However, some people in the industry believe the transaction does not value Dragon Oil highly enough. The newspaper further quoted Mirabaud oil analyst Tim HurstBrown as claiming that the deal was a "lowball offer". People in the oil and gas recruitment sector may be also interested to hear that Enoc aims to be socially responsible towards its employees, communities and the environment. 
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