Veolia Environment SA was expected to boost income from oil and gas ventures by five-fold to approximately Eur5 billion equivalent to US$6.4 billion. Veolia was Europe's largest water corporation. The proceeds would be earned within four years with the help of drilling shales and dismantling of mature offshore platforms.
According to Chief Executive Officer Antoine Frerot, the hydrocardon industry was "rapidly growing and rich." In a summit held today, he outlined his plans to bring the convenience into areas more directly associated to the industry. "Profit margins are attractive."
Frerot also publicized resourcefulness that moved the Paris-headquartered business from its significant municipal water and waste deals. The utility would concentrate on developing markets and confront the "most complex" industrial waste difficulties, he added.
Veolia already earned around Eur1 billion per year from its oil and gas enterprises. This also included water distribution and treatment for offshore production system and high-pressure washing of storage tanks.
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