Alpha Dhabi Holding, a rapidly expanding investment holding company in the UAE, revealed today its acquisition of a 51 percent ownership stake in NTS Amega Global. This strategic move highlights Alpha Dhabi’s steadfast dedication to strengthening its energy portfolio, particularly in the oil field services sector.
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Through this acquisition, NTS Group, renowned for its state-of-the-art manufacturing, repair, and rental solutions in the Oil & Gas sector, solidifies its position as a global leader in the production of drilling, subsea, top-side, and process components. This encompasses the repair of Measuring and Logging While Drilling (MWD/LWD) tools, as well as the rental of specialized Bottom Hole Assembly (BHA) drilling equipment. With operations expanding to nine strategic O&G locations, including its UAE headquarters, Saudi Arabia, Houston-Texas, Canada, Guyana, Norway, Singapore, Midland, and Lafayette, NTS Group has significantly widened its reach in the industry.
At a crucial juncture for the oilfield services market, expected to exhibit a compound annual growth rate (CAGR) of 5.5% from 2022 to 2027, this acquisition assumes significant importance. According to a recent report, the global oilfield services market is projected to reach USD 346.45 billion by 2027.
Valuable reinforcement
Through this acquisition, NTS will receive valuable reinforcement, enabling the expansion of its innovative contracting options. This includes Global Framework Agreements, Local Repair/Manufacture hubs, and Stock Management Programs, all strategically designed to reduce costs, enhance lead times, and maximize equipment availability, while upholding the highest standards of quality and service.
Unwavering commitment
Hamad Salem Al Ameri, chief executive officer and managing director of Alpha Dhabi commented: “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.”
Founded in 2006 in the UAE, NTS Group was established with the vision of becoming a prominent global manufacturing and services company specializing in drilling tools and equipment. In 2019, NTS Group underwent an acquisition by a joint venture involving TUBACEX, a renowned leader in advanced materials and sustainable solutions, as well as ADQ. Building upon its global footprint, NTS Group expanded its presence in 2020 through the acquisition of Amega West Services LLC from Carpenter Technology Corporation.
Superior performance
For his part, Jesus Esmoris, chief executive officer of TUBACEX, said: “Our partnership with Alpha Dhabi in NTS embodies TUBACEX’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 decarbonization, with gas serving as a bridge in this energy transition”.
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