Management Units and Service Companies
Executive and day-to-day management of the Group is the responsibility of a Management Commission, who reports directly to the Boards of Directors and is composed by the Executive Directors of the two Management Units of the Group,
Petroprimo and
Partex Management Oil Services (PMOS).
PETROPRIMO - Serviços para a Indústria Petrolífera S.A., was established in March 1996, in Lisbon, Portugal. It is a wholly-owned subsidiary of Partex Services Corporation.
The company's main objective is to render technical and administration services to the Partex Oil and Gas Group of Companies, its participations and partners, particularly:
To undertake and provide the management and coordination of technical support, business development, human resources and general administration.
To develop and reinforce technical co-operation with Participations and Partners.
To undertake and develop studies in areas of particular interest to the Group's operations.
The other Management Unit of the Group is
PARTEX MANAGEMENT OIL SERVICES S.A. (PMOS) a company incorporated in Vaduz (Liechtenstein) in February 1996. It is a wholly owned subsidiary of Partex Oil and Gas (Holdings) Corporation.
The object of PMOS is to provide financial and commercial services to the Partex Oil and Gas Group of Companies, namely:
To undertake, on behalf of the Group, the routine management of its holdings in operating companies and affiliates.
To manage the oil and gas commercial operations of the Group.
To manage the treasury and accounting activities of Group companies.
To prepare the annual Budgets and Financial Statements of Group Companies as well as the Five-Year Business Plan.
In September 2005, another Group service company was incorporated in Recife, Brazil -
Partex Brasil Serviços Petrolíferos Limitada - to provide the Group's operations in that country with the necessary management, technical, accounting, and administrative services, in addition to the support provided by Petroprimo and PMOS.
Partex Gas Corporation has a representative office in Abu Dhabi, United Arab Emirates, providing assistance to the management of operations in Abu Dhabi and Oman.
