GL buys Singaporean oil and gas firm

Singapore-based “International Refinery Services Pte Ltd” (IRS) is the latest addition to Germanischer Lloyd (GL).

With the acquisition of the asset management expert company, the GL Group is expanding its service portfolio for the petroleum, oil and gas industry. “With IRS, the GL Group adds substantial expertise in risk management and capacity of advanced inspection techniques,” said Pekka Paasivaara, Member of the Executive Board Germanischer Lloyd at the press conference in Singapore. Previous acquisitions in Great Britain, Canada, the U.S. and Malaysia over the past 18 months have strengthened the technical portfolio of the GL Group considerably. With its latest acquisition, GL will be able to provide extended services specifically to the oil and gas industry in the Asia-Pacific region. Germanischer Lloyd offers engineering consultancy, technical assurance, asset management, risk and safety consultancy, industrial inspections and software solutions to the oil & gas industry. The holistic service offering is directed at owners and operators of complex plants and installations. With the additional expertise of IRS, Germanischer Lloyd will now be able to further extend its network and service portfolio especially in Australia, Singapore, the Philippines and the Asia-Pacific region.

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