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Barakah Offshore links up with Vallianz as funding issues appear to recede

The two oil and gas services firms will form a strategic alliance to explore business opportunities in Malaysia and the Middle East. Barakah will offer its established engineering and operational capabilities to support Vallianz’s existing and future projects

Debt-ridden Barakah disclosed that new funds are expected to be raised through a share placement, with a white knight expected to take up a big portion of the new shares, although no specific details were revealed

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