Dhahran, September 1, 2022 – Industrialization and Energy Services Company (“TAQA”) and the shareholders of Al Mansoori Petroleum Services LLC (“AMPS”) have announced today that they have entered into a definitive agreement for TAQA to acquire 100% of AMPS, expanding TAQA’s Well Services business from Saudi Arabia to the wider Middle East and North Africa (“MENA”) region. The transaction is expected to close in the fourth quarter of 2022, subject to obtaining all relevant approvals and satisfying other conditions to closing.
AMPS brings to TAQA a long-established, well-diversified MENA-based business with a track record of strong performance and longstanding relationships with large Oil & Gas companies in the region. AMPS adds complementary products and services to TAQA’s portfolio, including Early Production Facilities, Well Testing, DST, Slickline, Marine Stimulation Vessels, Multi-Purpose Service Vessels, Inspection Services, H2S Monitoring and Logging & Perforation. With this transaction, TAQA will expand its geographic footprint into other countries across MENA.