Alpha Dhabi Holding, a UAE-based business conglomerate, has announced that it has acquired a 51% stake in NTS Amega Global, a leading provider of complex manufacturing, repair and rental solutions for the oil and gas sector, underscoring its unwavering commitment to boosting the energy portfolio.

 

With this acquisition, NTS Group has cements its position as a global frontrunner in producing drilling, subsea, top-side, and process components. This encompasses repairing Measuring and Logging While Drilling (MWD/LWD) tools and renting specialised Bottom Hole Assembly (BHA) drilling equipment.

 

NTS Group's operations now extend across nine pivotal O&G locations, including the UAE, where it is headquartered, Saudi Arabia, Houston-Texas, Canada, Guyana, Norway, Singapore, Midland, and Lafayette.

 

On the strategic move, CEO and Managing Director Hamad Salem Al Ameri said: "This acquisition is a clear reflection of our unwavering commitment to grow and drive value in our energy portfolio. By investing in companies that align seamlessly with our oil field services operations, we remain true to the core principles of our growth strategy."

 

"Our collaboration with industry leaders like NTS Group is a strategic move to not only accelerate our growth but also to expand and diversify our presence across various markets and regions," he stated.

 

In 2019, NTS Group was acquired by a joint venture between Tubacex, a leader in advanced materials and solutions for a sustainable future, and ADQ. In 2020, NTS Group further solidified its global presence by acquiring Amega West Services from Carpenter Technology Corporation.

 

Tubacex CEO Jesus Esmoris said: "Our partnership with Alpha Dhabi in NTS embodies the group's commitment to superior performance and innovation, particularly in offering sophisticated industrial products and services from a multi-energy perspective."

 

"With the backing of Alpha Dhabi, we stand at the threshold of not only setting new benchmarks in the industry but also driving pivotal transitions toward decarbonisation, with gas serving as a bridge in this energy transition," he stated.

 

The acquisition is pivotal for the oilfield services market, which is expected to grow with a CAGR of 5.5% between 2022-2027. According to a recent report, the global oilfield services market size is projected to reach $346.45 billion by 2027.

 

"The acquisition will support and bolster NTS's innovative contracting options, including Global Framework Agreements, Local Repair/Manufacture hubs, and Stock Management Programmes, all designed to reduce costs, improve lead times, and increase equipment availability while maintaining the highest levels of quality and service," he added.-TradeArabia News Service