PEC Ltd. says the company has entered into a joint venture agreement with Car-Ber Testing (Singapore) Pte. Ltd.

The initial paid-up share capital of the JV company will be $400,000. PEC and Car-Ber will hold 51% and 49% of the shares in the JV Co respectively.

Car-Ber is a Singapore-incorporated subsidiary of Car-Ber Testing Services, Inc., a Canadian company, which provides testing and isolation services to the onshore and offshore oil and gas industry, using its patented technologies and tools.

The joint venture company shall market and provide these services to customers of PEC and Car-Ber in Singapore, Malaysia, Indonesia, Brunei, Thailand and Vietnam.

In addition, the joint venture company will provide other specialty services, including controlled bolting/tensioning, cold cutting and bevelling, field machining, nut splitting/stud removal, cold tapping and hot tapping.