Saudi Arabia’s Industrialization and Energy Services Company (Taqa) and the UAE’s Al Mansoori Petroleum Services signed an agreement this week to partner in the nascent Saudi fracking sector. In a joint statement, the firms said they will “provide high-end fully-integrated fracturing and stimulation solutions” in “the growing hydraulic fracturing market which is forecasted at a value of more than SR2.0bn ($530mn) in 2020.”
Saudi Arabia’s unconventional work remains low-level, with first output of 55mn cfd from the Turaif project in late-2017 (MEES, 24 August 2018). Saudi Aramco says trial production is underway at Jafurah and South Ghawar and that “given the nature of unconventional resources, the Company will need to drill a significant number of wells in each area before it can draw conclusions.” Nabil Al Alawi, CEO of Al Mansoori, says that “we look forward to working together to create triple win: for us, for TAQA, but, most importantly, for Saudi Aramco.” (CONTINUED - 154 WORDS)