Tag Archives | Industrialization & Energy Services Co (TAQA)

TAQA Acquires Schlumberger’s Iraq Business

Saudi Arabia’s Industrialization and Energy Services Company (TAQA) has announced that its drilling subsidiary, Arabian Drilling Company (ADC), has agreed to acquire Schlumberger’s Middle East onshore drilling rigs business in Kuwait, Oman, Iraq and Pakistan for $415 million (SAR 1.56 billion). According to a TAQA press release, the transaction transforms ADC into a regionaldrilling leader […]

Saudi, Iraq sign 18 Major Energy Deals

By John Lee. Saudi Arabian companies have signed 18 agreements with the Iraqi government to jointly develop several key projects in the energy sector. The statement from the Iraqi Oil Ministry gave little detail, but quotes the Saudi Minister of Energy Khalid Al-Falih as saying that Saudi companies are keen to develop relations with Iraq, […]