Valerus acquisition helps Kentz win €27m Venezuela engineering deal

Kentz has won a $38m (€27.3m) engineering contract in Venezuela — via its US-based oil and gas handling subsidiary, Valerus — representing the group’s fourth significant international contract win inside the past month.

The Irish-founded engineering services group — which specialises in providing infrastructural support services for oil and gas exploration companies around the world — acquired Valerus, for €316m, in December in a bid to increase its foothold in the US, Latin and South America.

The new contract will see the company provide engineering and procurement services for an early- stage production plant in Punto Fijo in Venezuela for Carlon IV; a local company jointly owned by Spanish oil and gas group, Repsol and Italian energy giant, Eni.