Saudi Arabia's TAQA, AlMansoori Petroleum enter major deal

It will allow both companies access to the growing hydraulic fracturing market

  
An oil tanker is being loaded at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. Image used for illustrative purpose.

An oil tanker is being loaded at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. Image used for illustrative purpose.

REUTERS/Ahmed Jadallah
Saudi Arabia’s Industrialization and Energy Services Company (TAQA) has announced the signing of an agreement with UAE-based AlMansoori Petroleum Services (AMPS) to make a foray into hydraulic fracturing market in Saudi Arabia.
 
The announcement was made at the opening of this year’s International Petroleum Technology Conference (IPTC), taking place for the first time in Saudi Arabia in Dhahran.
 
The agreement establishes an alliance between TAQA and UAE-based AMPS to provide high-end fully-integrated fracturing and stimulation solutions, through a combination of both companies’ respective expertise and capabilities in geoscience and engineering, well-site management, well testing and flowback, fracturing, stimulation, slickline, coiled tubing and perforation services and equipment. It will allow both companies access to the growing hydraulic fracturing market which is forecast to be worth more than SR2 billion in 2020.
 
Khalid M. Nouh, Chief Executive Officer of TAQA, said: “The alliance with a world class OFS company such as Al Mansouri will expand TAQA’s capabilities and allow us access into the integrated stimulation FRAC market of Saudi Aramco, and will provide our customers with world class capabilities from a new supplier.”
 
Nabil Al Alawi, AMPS CEO, commented: “Partnering with TAQA will allow us to extend our offerings into the hydraulic fracturing and stimulation market of Saudi Arabia. As a leading home-grown company in our field founded in the UAE, we are delighted to be working with a national Saudi company such as TAQA. We look forward to working together to create triple win: for us, for TAQA, but, most importantly, for Saudi Aramco.”
 
IPTC, which runs till Jan 15 at Dhahran Expo, is expected to attract thousands of top oil and gas industry professionals from around the world. – TradeArabia News Service

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