Cape forms joint venture in Kazakhstan

Energy support services firm Cape has established a joint venture in Kazakhstan in a bid to expand it presence in the country.

A newly created firm Cape Caspian is jointly owned by Cape and the Lancaster Group, which the company described as a "highly reputable private company".

Lancaster consists of several divisions operating in different sectors of the Kazakhstan economy including the energy, oil services and mining sectors.

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Cape's Chief Executive Joe Oatley, said the joint venture would build on more than twelve years of safe and successful Cape operations in Kazakhstan.

"This provides an excellent opportunity to expand our business and to deliver future success for our shareholders," he said.