The leading regional oil field services and equipment players are building further strength through collaboration in addressing the challenging & growing Hydraulic Fracturing market.
Dubai, United Arab Emirates, January 14, 2020: 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.