The acquisition sees MSE take complete ownership of the entire capital of Target Energy. Target Energy and its subsidiaries include Target Well Control UK, Tiebo Middle East, Target Well Control France, Target Well Control Syria and Target MWD Canada.
Through this deal, MSE will now offer all of Target's products and services, which include Drilling Engineering, Directional Drilling, Well Placing, Mud Motors, Rotary Steerable Tools, Measurement-While-Drilling and Logging-While-Drilling Services.
The acquisition greatly enhances MSE's capabilities, especially with a highly specialized directional drilling team in place.
Ibrahim Al-Alawi, MSE's business development manager says, "The Target acquisition complements AlMansoori's wide range of service offerings in the region. Target is very much a technology-driven company, whose directional drilling services are in high demand. It has a proven track record in different parts of the world, including Russia and the North Sea. This experience will greatly enhance our technical team."
"Further, the products and services we have taken over with this deal will bring AlMansoori one step closer to our goal of being a truly integrated service provider."
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