Riyadh – Mubasher: Industrialization and Energy Services Company (TAQA) has enlarged its footprint in Egypt, making the country a regional hub and a robust gateway for its expansion into the MEA region.
The Saudi company plans to boost its presence and scale up business within the Egyptian market, according to a press release.
TAQA leverages the capabilities of 27 Egyptian firms to provide comprehensive well services, including drilling, production, exploration, and more to anchor the petroleum sector in the Arab Republic.
This followed TAQA’s acquisition of Al Mansouri Petroleum Services Company (AMPS), which was financed by a capital increase led by the main shareholders.
Khalid Nouh, CEO of TAQA, commented: “TAQA's acquisition of companies like Al Mansoori Petroleum Services, Norwegian Tendeka, American Cougar, and Target Oilfield Services, will undoubtedly propel the company to a global scale, fostering continued growth in the services we offer worldwide alongside our clients spanning the MEA region.”
Hossam Abu Seif, Vice President of TAQA in Egypt, said: “We are also interested in exploring new opportunities in the fields of renewable energy.”
“TAQA’s workforce will expand to over 5,000 employees regionally, dedicated to serving a broad and diverse customer base across 20 countries,” Abu Seif elaborated.
Founded in 2003, TAQA is a privately held Saudi joint-stock company with regional offices in Dhahran and Abu Dhabi, providing products and well solutions to its clients around the globe.
It is worth highlighting that the Saudi Public Investment Fund (PIF) holds a 54% stake in TAQA's shares.
