The Energy Manufacturing and Services Company (TAQA), owned by the Public Investment Fund and a group of the most prominent Saudi joint stock companies and founding investors, acquired a stake in OPT, which is based in Houston, USA, which is one of the companies specialized in oil and gas field services chemicals.
World-class specialized chemicals and products are a major component of TAQA’s success and distinction. OPT will invest more than 10 million riyals (one dollar equals 3.35 riyals) to build a local chemical research, engineering and manufacturing facility in Dhahran.”Our partnership with OPT will enhance our research, engineering and manufacturing capabilities related to oil and gas field service chemicals, which will support our ambitions for technical development,” said TAQA CEO Khaled Al-Noah in a statement on Tuesday evening.
For his part, OPT CEO Chi Jeun Shao said, “This cooperation will allow us to manufacture chemicals locally in the Kingdom, and enable us to support ikatva initiatives in the Kingdom.”
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