Riyadh – Mubasher: Saudi Arabia's Industrialization and Energy Services Company (TAQA) announced the signing of an agreement with Al Mansoori Petroleum Services (AMPS) on the sidelines of the International Petroleum Technology Conference (IPTC).
The agreement establishes an alliance between TAQA and the UAE-based Al Mansoori 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, according to a statement.
The deal allows both the Saudi and Emirati firms access to the growing hydraulic fracturing market, which is forecasted at a value of more than SAR 2 billion 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.”
Meanwhile, the CEO of Al Mansoori Petroleum Services, Nabil Al Alawi, 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.”