The National Oil and Gas Authority (NOGA) has announced that its Oil and Gas Holding Company (Nogaholding) has acquired the shares in the Bahraini shipyard, ASRY, that were previously held by the Government of the Kingdom of Bahrain. The recently modernised ASRY, which has expanded its activities in the oil and gas sector in recent years, is expected to complement the existing NOGA portfolio.
At the same time the ASRY Board of Directors has approved the appointment of H.E. Shaikh Mohammed bin Khalifa Al Khalifa, Minister of Oil, as Chairman of ASRY. Additionally, Mazen Mohammed Matar has been appointed to the board as managing director of the company, he will also assume the responsibilities of chief executive officer, succeeding Magdy Sharkawy, who, as acting CEO, has steered ASRY through a transitional phase. Sharkawy will however continue to have an involvement with the yard in an advisory role.