The Pacific Petroleum Company has completed the acquisition of BP South West Pacific Limited with almost $US70 million.
This was announced by Pacific Energy South West Limited chairperson Bruno Daly at a press conference this morning.
Daly said the acquisition is a very important milestone in the growth of Pacific Petroleum Company group business in the Pacific region as it is now bigger than any of their competitors in the region.
Pacific Petroleum is the parent company of Pacific Energy South West Pacific Limited.
After the completion of the acquisition, BP South West Pacific Limited has been renamed to Pacific Energy South West Pacific Limited.
In taking over from BP South West Pacific, Daly said all local staff will remain with Pacific Energy South West Pacific providing continuity of the skills, capabilities and experience that already exists.
Daly said the team will be reinforced by Managing Director Roko Nabalarua based in Fiji who has wide experience and expertise across the oil industry having worked with both BP and Shell across the Pacific.
In the next few months the Pacific Petroleum Company will be changing the look of BP starting with the Suva areas before moving to the other locations.
