AlMansoori Makes Third Acquisition in Egypt
The oilfield services provider AlMansoori Specialized Engineering (MSE) has signed a multi-million dollar deal to acquire the Tubing Conveyed Perforation (TCP) division of Energy Inc as part of MSE's plans to build and strengthen its business developments in Egypt.
The ceremony was attended by MSE chairman Abdulla Nasser, Hilal AlMansoori, president, Nabil Alalawi, managing director Adel Baobaid, general manager for marketing & JV companies and Raoul Razzouk, managing partner of Energy Inc.
The acquisition marks MSE's third venture into the Egyptian market. In July last year the company acquired Cairo-based service company Gulf Petroleum Investments (GPI) in a multi-million dollar deal. Its first venture into the rapidly growing Egyptian oil and gas sector was the acquisition of production testing, drill stem testing and memory gauge equipment company Alpine Oil Services Egypt (AOSE).
Oil field service company Energy Inc is a subsidiary of Energy-Middle East. The company was established in Egypt in 1993 to manufacture high quality TCP products and services, under the name of Energex TCP System. The company has a team of experienced and professional staff who are committed to developing and advancing cased hole well technology to the global oil and gas industry on and offshore.
Nabil Alalawi, managing director of MSE, said: "The acquisition of the TCP division of Energy, Inc will strengthen our offering to the global oil and gas industry while extending our scope of services in Egypt, which we see as a major consideration for future expansion. The acquisition is part of our overall goal to be one of the major players providing oil and gas services in the region.''
Energy Inc managing partner Raoul Razzouk said: "Energy Inc and MSE share common vision and values to provide high quality technology and services putting safety first at all costs. The team has extensive technical expertise and engineering skills which we look forward to incorporating and developing with MSE. I am looking forward to a very bright and prosperous future for both companies and their customers."
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Company: Energy Inc more info
- AlMansoori Makes Third Acquisition in Egypt (Mar 01)