Flotek Industries Inc and Gulf Energy LLC plan to build facilities in Oman to address the growing need for advanced oilfield chemistry and analysis in the MENA region
US-based oilfield technologies firm Flotek said it would own 60 per cent of the two new Omani-registered limited liability companies.
The first will be a chemical production company near the Port of Sohar. The second will be an R&D laboratory, located near Muscat, that will focus on the application of Flotek's oilfield chemistries to the challenges of drilling, completion and production in MENA region.
John Chisholm, chairman of Flotek, said, "Combining Flotek's advanced oilfield chemistry solutions, Gulf Energy's existing clients and the best research minds in the region is a formula that should create a leading oilfield technology effort in MENA region."
The chemical production facility is expected to cost US$10mn.
Once completed, the facility would market and provide oilfield chemistry to projects throughout the MENA region, the company said.
Hilal al Busaidy, CEO of Gulf Energy, said, "We are pleased to be partnered with Flotek, as we work to bring new, technology-focused enhancements to hydrocarbon production in the MENA region."
Flotek would also soon begin shipping certain oilfield chemistries to the region in the coming weeks, prior to the completion of the production facility.
