Saudi Arabia-based Industrialization and Energy Services Company (TAQA) and UAE-based AlMansoori Petroleum Services (AMPS) have formed an alliance to provide high-end, fully integrated fracturing and stimulation offerings, TAQA reported Tuesday.
The oilfield services (OFS) firms announced the deal at the 2020 International Petroleum Technology Conference (IPTC), which Saudi Aramco is hosting this week in Dhahran, Saudi Arabia.
“The partnership 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 customer world-class capabilities from a new supplier,” TAQA CEO Khalid M. Nouh commented in a written statement.
TAQA noted the alliance with AMPS will combine both companies’ expertise and capabilities in:
“Partnering with TAQA will allow us to extend our offerings into the hydraulic fracturing and stimulation market of the Kingdom of Saudi Arabia,” stated AMPS CEO Nabil Al Alawi.
TAQA noted the growing Saudi hydraulic fracturing market is forecast to exceed 2 billion Saudi riyals (US$533 million) this year.
“As a leading home-gown company in our field founded in the UAE, we are delighted to be working with a national Saudi champion company such as TAQA,” continued Al Alawi. “We look forward to working together to create a triple win: for us, for TAQA but, most importantly, for Saudi Aramco.”
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