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The joint venture will see Houston-born Key Energy Services establish a base in the Middle East for the first time and signifies AlMansoori's expansion into the region, it will target heavily in 2010.
Founded in Abu Dhabi in 1977, AlMansoori has grown to become one of the Middle East's largest oil field services companies, streamlining its services division in 2009 with the creation of AlMansoori Petroleum Services (MPS) and AlMansoori Petroleum Industries (MPI).
Nabil Alalawi, CEO of AlMansoori Specialized Engineering, said:
"Although AlMansoori has strong roots in the Middle East, the company's international reach has consistently grown and North America has been a market that has become increasingly important to us. Key Energy Services heritage in America is akin to that of AlMansoori in the Middle East and we look forward to developing this relationship further in 2010 and beyond."
Don Weinheimer, Senior Vice President of Production Services at Key Energy, said, "This is Key's first venture in the Middle East and AlMansoori's reputation and experience in the region assures us that the partnership will be a successful one. The JV will enhance AlMansoori's portfolio of Services to provide a very impressive and full service offering to the industry and we look forward to progressing further opportunities with AlMansoori in both the Middle East and North Africa."
Posted by Siba Sami Ammari
