Saudi Arabia-based oilfield services company TAQA has agreed to acquire the UK-based well completion specialist Tendeka.
Tendeka specializes in offering reservoir monitoring and control, advanced lower completions, and production optimization technologies for conventional and unconventional reservoirs both onshore and offshore.
Ahmed Mousa Al- Zahrani, TAQA Chairman of the Board, said: “We continue to realize TAQA 2021 strategy to expand well services offering and become a leading international services and equipment provider. The acquisition of Tendeka will complete our portfolio and fill the well completions gap we had. Tendeka has an excellent technology base with strong IP, skilled workforce, and global international presence, complementing our current and future offering”
Brad Baker, Tendeka Chief Executive Officer, said: “We are delighted to join the TAQA Group. Tendeka has a rich history of providing innovative technologies for reservoir recovery and production optimization. TAQA will not only immediately strengthen our capabilities in the key Middle East Region, but also bring investment for our future growth."
Financial details of the transaction were not disclosed.