The Contract Services Group (CSG) of Renaissance Services SAOG (Renaissance) has signed a Joint Venture (JV) Agreement with ProGroup Angola to provide catering, facility management and related contract services in Angola. Angola is one of the world’s fastest growing oil producers. International oil companies have flocked to the country's rich offshore fields, quadrupling oil output over recent years to an average of 1.4 million barrels a day in 2006. Angolan national oil company Sonangol has announced plans for $50 billion in investments over the next six years to increase production to 2 million barrels a day. Last year Renaissance acquired Norsk Offshore Catering (NOC), operating in the Norwegian sector of the North Sea, with the stated intent of expanding its offshore catering and support services capabilities to other offshore oil & gas markets in the world. The new Angolan JV is an integral part of that strategy. Renaissance Services SAOG is an Omani public company listed on the Muscat Securities Market. Renaissance is a diverse service company, with a primary focus on the oil & gas sector, where it is an internationally renowned provider of turnkey contract services and owns one of the top ten offshore support vessel fleets in the world. The company recently reported its 2006 annual results with revenue of R.O. 142.9 million (US$372 million) for the year. (l to r seated) Adil Bahwan (GM Operations Renaissance CSG), Jose Louis Carvalho (President Pro Group), Stephen Thomas (CEO Renaissance), Ananda Fernando (GM Commercial, Renaissance CSG). (l to r standing) Arindam Ray (Finance Manager, Renaissance CSG), Karim Shaikh (Executive Assistant to CEO Renaissance) and Peter Roles (Operations Manager Angola, Renaissance CSG).