06:30 AM EDT, 08/23/2024 (MT Newswires) -- LNG Energy Group ( LNGNF ) late on Thursday said it has created a new oilfield services division at its subsidiary Lewis Energy Colombia (LEC).

LEC owns and operates three rigs capable of executing well services, including new exploration and development wells. The rigs and associated equipment have an estimated value of approximately US$10 million.

The new oilfield services division will be led by Matthew O'Neill, head of LEC's completion and well intervention services. O'Neill has been with the company since 2015 and previously worked for the global oilfield services company Schlumberger.

"Through the creation and deployment of the Oilfield Services Division, LEC will not only generate another revenue stream, but further strengthen its position as an integral part of the energy landscape in Colombia," said Pablo Navarro, chairman and CEO of LNG Energy Group ( LNGNF ).