A Bahraini company is looking at eight joint ventures in the oil and gas sector in the very near future, it has emerged.

Yusuf bin Ahmed Kanoo Company, one of Bapco's major suppliers of oil industry-related equipment, says it already has 15 such ventures in place.

'We are forever looking to expand our presence in the market and these new ventures will do just that,' company oil and gas general manager Jacinto Hyacinth DeSouza said.

'The industry is rapidly expanding in this part of the world and we have to keep pace with that expansion,' he said speaking at the MEOS 2011.

'The new expansions could be worth millions of dinars in the nearly $700 million oil and gas equipment industry in this part of the world.'

The company is showcasing its products, in particular its relationship with Bapco, at the event. DeSouza said they hoped the new deals could be closed soon.-TradeArabia News Service