“Public Investments” acquires a stake in “OPT” – Saudi Arabia News

The Industrialization and Energy Services Company (TAQA), owned by the Public Investment Fund and a group of the most prominent Saudi joint stock companies and founding investors, acquired a stake in OPT, based in Houston, USA, and is one of the companies specialized in oil and gas field services chemicals.World-class chemicals and specialized products are a key element for the success of TAQA’s services and its distinction. OPT will invest more than 10 million riyals to build a local chemical research, engineering and manufacturing facility in Dhahran, with a mandate to provide new engineering solutions and make more available. Job opportunities, and enhancing the local content in the research and development of chemical products in the Kingdom.

“Our partnership with OPT will enhance our capabilities in research, engineering and manufacturing related to oil and gas field service chemicals, which will support our ambitions for technical development,” said TAQA CEO Khaled Al-Noah.

He added that the local research, engineering and manufacturing facility that OPT will develop in Dhahran will expand the chemical footprint in the Kingdom and enable entry into the field of specialized chemicals to address the performance and safety of wells in the oil and gas sectors.

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