Aberdeen-based International Tubular Services, a global supplier of oilfield products and services, has announced the formation of new company ITS Arabia, following a joint-venture agreement with Shoaibi Group, one of the leading Saudi players in the oil and gas industry.
ITS Arabia, located in al Khobar, Saudi Arabia, will provide a wide range of drilling equipment and associated services to regional oil and gas organisations.
After operating in Saudi Arabia for three years, ITS has now partnered with the Shoaibi Group in an effort to accelerate its expansion in the kingdom.
Plans are already under way to establish a machine shop for manufacturing, repairs and inspections, which will support further investment in equipment and personnel over 18-24 months.
The joint venture offers operators the full complement of ITS’s equipment and a comprehensive service offering. Drill pipe, drill collars, stabilisers, drilling jars, casing running equipment, fishing tools and pressure-control equipment are available for sale or rent.
ITS Group chief executive Jeff Corray said: “A major contributor to the ITS success story has undoubtedly been the strong development of our Middle East operations.
“We have invested in infrastructure, equipment and people to support our growth. The continued development of our business in Saudi Arabia is a key focus for us going forward.
“Across the ITS Group we pride ourselves in ensuring significant local content and I am delighted to be entering into this partnership with Shoaibi Group.”
Khalid al Shoaibi, director of Shoaibi Group, said: “ITS represents very complementary services to Shoaibi Group activities in the oil and gas industry in Saudi Arabia. We look forward to working together as a team and joining our resources to enhance market presence.”
ITS, formed in 1986, now has 22 operational sites worldwide including in the US, Trinidad, Egypt, United Arab Emirates, India, Pakistan, Singapore and China.
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