Industrialization and Energy Services Company (TAQA) announced today that it has entered into a definitive agreement to acquire all of the remaining shares of Arabia Geophysics Company. The deal is planned to be completed later this year with the Arabian Geophysical and Surveying Company (ARGAS), a subsidiary of TAQA. Depending on compliance with various related conditions.
Khalid M. Nouh, CEO of TAQA and Chairman of the Board of ARGAS, said: “With this agreement, ARGAS will become a fully owned subsidiary of TAQA, which is consistent with TAQA’s strategy and will help Accelerate better integration with other subsidiaries in our group. We will invest further in ARGAS to make the most of ARGAS’ exploration skills to reach the natural resources and mining industry in the region.”
Founded in 1966, ARGAS specializes in collecting seismic and non-seismic data on land, in shallow water and at sea. It also provides geoscience and surveying services. ARGAS is based in Dhahran city Saudi Arabia It has regional operations across the Middle East and North Africa.
TAQA Company is a multinational company headquartered in Dhahran. Founded in 2003, TAQA provides leading-edge oilfield solutions for the energy industry. Creating value and opportunity for all stakeholders. TAQA has over 5,000 employees in more than 20 countries and operates across many markets. TAQA has a complete portfolio of oilfield solutions, including coiled tubing and wellhead stimulation. and Stimulation, Cementing, Wireline, Frac, Directional Drilling, Equipment Downhole logging (Downhole Tools), well preparation for production (Completions), well testing (Well Testing), slickline (Slickline), inspection (Inspection), safety from hydrogen sulfide (H2S Safety), as well as digging the geology and perforating the borehole walls to measure properties. of rock layers (Logging and Perforating Inspection)
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