Saudi Arabia's TAQA & AlMansoori Petroleum Services to penetrate the hydraulic fracturing market

The leading regional oil field services and equipment players are building further strength through collaboration

  
Khalid-Nouh CEO TAQA

Khalid-Nouh CEO TAQA

Dhahran - Saudi Arabia’s Industrialization and Energy Services Company (TAQA) announced today the signing of an agreement with AlMansoori Petroleum Services (AMPS). The announcement was made at the opening of this year’s International Petroleum Technology Conference (IPTC), taking place for the first time in the Kingdom of Saudi Arabia.

The agreement establishes an alliance between TAQA and UAE-based AlMansoori Petroleum Services to provide high-end fully-integrated fracturing and stimulation solutions, through 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, allowing both companies access to the growing hydraulic fracturing market which is forecasted at a value of more than SAR2.0BN in 2020.

Commenting on the new agreements, 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, AlMansoori Petroleum Services CEO commented: “Partnering with TAQA will allow us to extend our offerings into the Hydraulic Fracturing and stimulation market of the Kingdom 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 champion 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 is expected to attract thousands of top oil and gas industry professionals from around the world. It is taking place from 13-15 January 2020 at the Dhahran EXPO in Dhahran, Saudi Arabia, under the patronage of HRH Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince, Deputy Prime Minister and Minister of Defence.

-Ends-

About TAQA

TAQA is a leading provider of superior end to end oilfield solutions for the regions’ dynamic energy industry; delivering quality products and equipment across the entire upstream value chain in Saudi Arabia.

Throughout the region that are designed to elevate performance and support sustainability and progress in the countries in which it operates. Established in 2003 with a broad mandate to localize the dynamic energy goods and services sector, TAQA is a Saudi Arabian Joint Stock Company with the Public Investment Fund owning 45.70% and the remaining 54.21% owned collectively by government agencies, Joint Stock Companies and several private and industrial investors representing a cross section of the Saudi industrial community. http://www.taqa.com.sa

About AlMansoori Petroleum Services

AlMansoori Petroleum Services is one of the leading Oilfield Services Company in Middle East & North Africa providing a wide range of highest quality Services, Products & Solutions to the Oil & Gas Industry in the region. Established in 1977 in the UAE, its operations developed through the years a sustained presence in more than 15 countries with a workforce of over 3000 people.

www.almansoori.biz 

© Press Release 2020

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases