US-based FTS International (FTSI) has signed an agreement with Summit Technologies Company (Summit), through its affiliate Selected Arabia, for its first international joint venture
The joint venture will form a new Saudi Arabian company called FTS Arabia, which will provide well completion products and services for onshore conventional and unconventional oil and gas wells in KSA and Oman.
"Summit's knowledge and experience in the region, partnered with FTSI's technical expertise and experience in the oilfield services business, our vertical integration, quality manufacturing operations, and extensive supply chain network, will make this a very successful venture for both entities," said FTSI chief executive officer Marc Rowland.
FTS Arabia will provide transportation, research and development, and laboratory services in connection with its well completion services. Its other services include mining, production, sourcing and marketing of raw materials such as proppants and specialised well completion additives.
Summit chief executive officer Greg Gray commented, "Summit's mission is to align with best-in-class organisations such as FTSI who are interested in expanding into the broader Gulf region.
"We feel that FTSI has the flexibility, expertise and resources to provide products and services that will meet our clients' needs in the KSA and Oman, and to help maximise critical natural resources."
