GAS signs manufacturing deal with UK-based OGS

GAS says agreement is a general framework with no specified value

GAS Arabian Metal Tech Factory, the industrial arm of TASI-listed GAS Arabian Services Co. (GAS), signed a binding manufacturing agreement on April 14 with UK-based engineering systems specialist Oil & Gas Systems Ltd. (OGS).

The agreement is exclusive and covers the design, engineering, and manufacturing of specialized systems for the oil and gas sector within Saudi Arabia, GAS said in a statement to Tadawul.

The collaboration included the local production of systems designed by OGS, such as liquid and gas custody transfer metering systems, multiphase metering systems, calibration systems, and gas conditioning units.

The agreement represents a project-based cooperation framework without a fixed total value at signing.

Financial consideration for services and intellectual property rights will be determined separately for each project, it noted.

The company added that the agreement has a five-year term, automatically renewable for two years.

GAS expects a positive financial impact on its results starting from the award of future projects. It also confirmed that no related parties are involved.