Strong reports indicate that Maridive is searching for investment opportunities in the West African regions and targeting increasing its business volume in North Africa as it offered new marine unit for rent in Libya for the coming two years.

Hatem Alaa, financial analyst at HC, expected that Maridive project to be a part of a joint venture with Enpi and Total. Rumors were made that Maridive submitted an offer and awaiting approval of concerned parties, as company construction works share will hit $ 140 million.

Emad Fawzy, Financial Manager at Maridive, refused to answer any questions on the type of the project, but in a release sent to The Egyptian Exchange (EGX) regarding these reports that in case the project was officially settled, Maridive’s stake in such alliance will to reach $ 140 million.

The release added that Maridive business expansions are ongoing as it awaits new marine units during 2010 which will be directed to work in Libya’s deep water.