https://arab.news/6cd65
Saudi Arabia’s Industrialization and Energy Services Company (TAQA) has announced 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.
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, allowing both companies access to the growing hydraulic fracturing market, which is forecasted at a value of more than SR2 billion ($533 million) in 2020.
Khalid M. Nouh, chief executive of TAQA, said: “The alliance with a world-class OFS company such as Almansoori 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, CEO of AMPS, said: “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 a triple win: For us, for TAQA, but, most importantly, for Saudi Aramco.”
TAQA is a 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.
Almansoori Petroleum Services is an oilfield services company providing a wide range of services, products and solutions to the oil and gas industry in the region.
This year’s IPTC attracted thousands of top oil and gas industry professionals from around the world. It took place from Jan. 13 to 15 at the Dhahran Expo in Dammam, under the patronage of Crown Prince Mohammed bin Salman.