Algihaz Holding, a closed joint stock company, announced entering into a share purchase agreement with Blofeld Investment Management Limited to buy the latter’s 60% stake in Thunderball.

Thunderball currently holds 73% of Lamprell Ltd, a leading provider of construction and fabrication, servicing the international energy sector, including renewables as well as oil and gas industries, Algihaz said in an emailed statement to Argaam.

As the deal is completed, Algihaz now holds 100% of Thunderball.

Algihaz stated that the deal strengthens its strategic position in the offshore oil sector, and it looks forward to continuing growth with its partners and exploiting more investment opportunities.