Achieving a diversified portfolio and selectively investing in profitable projects
Magnus Energy Group Limited (“Magnus”) commenced operations in 1983 as a mechanical and electrical contractor. With the acquisition of Mid-Continent Equipment Group Pte. Ltd. in 2004, Magnus entered the energy sector by becoming a supplier and distributor of products, equipment and related services to the global oil and gas industry (the “Equipment Supply and Distrbution Business”). Magnus continues to promote and develop the Equipment Supply and Distribution Business through its US subsidiary, Mid-Continent Equipment, Inc.
In 2020, Magnus diversified into (a) Engineering, Procurement, Construction and Commissioning (“EPCC”) services, and related services, including management of EPCC projects, consultancy services, and maintenance and repair services for equipment, facilities and infrastructure; and (b) drilling and consultancy services, including onshore drilling projects for conventional and unconventional oil and gas resources, mineral mines and coal mines, water resources exploration and production drilling, and geothermal exploratory and production drilling.