Oilfield services firm Chinese Eastern Dragon Company has signed a US$81.6mn partnership agreement with UAE’s Al Falahi Group of Companies to produce and supply equipment, including high-tech devices, within the oil services sector for both public and private enterprises
The agreement was signed between Mohammed Jerio Al Falahi, CEO of Al Falahi Group, and John Chen, CEO of Chinese Eastern Dragon Company.
Al Falahi said, “The agreement comes within the framework of developing the oil services sector in the UAE in general, and Abu Dhabi in particular. The private sector is a strategic partner of the public sector in implementing the strategic plan and the UAE’s future vision, and an active contributor to the development process in its various forms.”
Moreover, he explained that the signing of this agreement comes in line with the great support provided by the Abu Dhabi government to the private sector, considered a strong companion to the government sector, which contributes to the revitalisation and progress of the oil sector in the country.
Furthermore, Al Falahi pointed out that entering the partnership with Chinese Eastern Dragon Company was necessary to enhance cooperation and build institutional partnerships with industrial, commercial, national, and international sectors, in order to serve the UAE’s oil sector and upgrade the level of services in general. It is also in line with the Abu Dhabi 2030 vision, aimed at contributing to the growth and development of this sector.
Chen added that he looked forward to contributing to the success of the project and the others that the company is developing, in cooperation with his partners across the UAE and abroad.