At the inaugural day of the International Petroleum Technology Conference in Riyadh, the Industrialization and Energy Services Company 'TAQA' announced it has signed an agreement to acquire Tendeka, a UK-based engineering and manufacturing company with offices in Houston, Stavanger, Aberdeen, Dubai and Kuala Lumpur.
Tendeka specializes in offering reservoir monitoring and control, advanced lower completions, and production optimization technologies, delivering innovative, stand-alone completion products which can be combined and tailored to specific customer requirements across the full spectrum of conventional and unconventional reservoirs.
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.'
