Saudi’s TAQA signs deal to foray into hydraulic fracturing market

Saudi-based Industrialization and Energy Services Company (TAQA) signed an agreement with UAE’s AlMansoori Petroleum Services (AMPS) to make a foray into hydraulic fracturing (FRAC) market. 

The announcement was made at the International Petroleum Technology Conference (IPTC) 2020, taking place for the first time in Dhahran.

“The alliance will expand TAQA’s capabilities and allow us access into the integrated stimulation FRAC market of Saudi Aramco, and will provide our customers with capabilities from a new supplier,” Khalid M. Nouh, CEO of TAQA, said.

Under the agreement, TAQA and AMPS will collaborate to provide fully-integrated fracturing and stimulation solutions. This will be done through a combination of expertise and capabilities in geoscience and engineering, well-site management, well testing and flowback, fracturing, stimulation, slickline, coiled tubing and perforation services and equipment.

“As a home-grown company in our field founded in the UAE, we look forward to working together to create triple win for us, TAQA, but, most importantly, for Saudi Aramco,” Nabil Al Alawi, AMPS CEO, said.