Under the terms of the agreement ECG’s CEO, Ali Abdulaziz Al-Turki, will join the board of directors at NEOS, a US-based provider of exploration solutions for the oil and gas and mining industries.
“We are working closely with NEOS in the further development and commercialization of its services around the world and will utilize our resources, network and unmatched experience of the regional energy services sector to support the company’s further growth and progress,” Al-Turki said in a statement.
NEOS is developing NeoSphere, a technology that helps natural resource companies to better understand and plan were to explore, lease and drill.
ECG has invested over $100 million in international and Middle East energy services companies, it said in a statement.
