The final sale agreement was signed between Nabil Alalawi, Managing Director of MSE, and Sadek El Hashash, former owner of AOSE. The signing was held at MSE¹s Musaffah base in Abu Dhabi.
The acquisition of the Cairo-based company marks MSE's first venture into the rapidly growing Egyptian oil and gas sector. Alpine Oil Services Egypt (AOSE) was established in 1996 by the Alpine Oil Services Corporation in Canada ¬ one of the leading Canadian companies in production testing, drill stem testing and underbalanced drilling.
AOSE will enhance MSE's delivery of production testing, drill stem testing and memory gauge equipment through its wholly-owned subsidiary, AlMansoori Production Services (MPS). The company has a major ongoing long term contract with Khalda Petroleum in Egypt¹s Western Desert to deliver production testing and mobile trailer units.
MPS General Manager Housam El Houseiny said: "The acquisition of AOSE is of key strategic importance to MPS, in our commitment to both geographic and business expansion".
"AOSE's existing portfolio of work gives us immediate entry into the highly significant Egyptian oil and gas market and we will be able to utilize the company¹s existing production testing and drill stem testing equipment to maximize the many opportunities we foresee there.
"Our establishment in Egypt will also provide a solid base from which to expand into the wider North African oil and gas market, giving us a significant advantage in the region."
AlMansoori Specialized Engineering is the leading regional provider of oilfield services in the Middle East. Established in Abu Dhabi in 1977, the company now has more than 900 employees working in 15 countries providing a variety of oilfield services.
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