Alpha Dhabi Holding Company
On Wednesday, Alpha Dhabi Holding Company acquired a majority stake (51%) in NTS Amega Global, to enhance its business portfolio of energy projects and its strong focus on the oil field services sector.
NTS Group specializes in developing the latest manufacturing, repair and rental solutions for the oil and gas sector, and through this acquisition it will be able to consolidate its position as a global leader in the production of drilling equipment, marine systems and equipment, and surface equipment above the sea.
This includes the repair of measuring/loading while drilling (MWD/LWD) equipment, and the rental of drilling piping and shaft components (BHA).
NTS Group’s operations now include nine major operating and development sites, including the Emirates, which is home to the company’s headquarters, Saudi Arabia, Houston in the US state of Texas, Canada, Guyana, Norway, Singapore, Midland in Michigan, and Lafayette in Louisiana in the United States.
On this occasion, Eng. Hamad Al Ameri, CEO and Managing Director of Alpha Dhabi Holding, said, “There is no doubt that our cooperation with prestigious entities such as the NTS Group is a strategic step, not only to accelerate the pace of growth of our business, but also to enhance and diversify our presence in different markets and regions.” “.
The “NTS Group” was launched in the UAE in 2006 with the aim of establishing a global manufacturing company specialized in developing marine drilling equipment and supplies.
The group was acquired in 2019 through a joint venture between Tubacex, a leader in sustainable solutions and materials, and ADQ.
In 2020, NTS Group strengthened its global presence through the acquisition of Amega West Services from Carpenter Technology Corporation.
For his part, Jesus Esmores, CEO of Tubacex Group, said: “Our partnership with Alpha Dhabi and its investment in NTS Group embodies our commitment at Tubacex to innovation in performance to continue achievements, especially in providing advanced industrial products and services to the energy sector.” “Alpha Dhabi’s support will enable us to set new standards in the energy industry and lead efforts to reduce carbon emissions, as gas acts as a bridge in this transition towards adopting clean energy.”
This acquisition comes at an important time for the oilfield services market, which is expected to grow at a compound annual growth rate of 5.5 percent from 2022 to 2027.
One recent report expects the size of the global oilfield services market to reach $346.45 billion by 2027.
The acquisition will support the company’s innovative contracting options, including global framework agreements, local repair/manufacturing centers, and inventory management programs, all of which are designed to reduce costs, accelerate turnaround times, and increase equipment availability while maintaining the highest levels of quality and service. .
2023-10-25 08:30:18
#Alpha #Dhabi #acquires #majority #stake #NTS #Amega #Global
