Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Aberdeen’s Tendeka acquired by Saudi Arabian firm TAQA

© Supplied by TAQA / TendekaTendeka TAQA
Tendeka said TAQA will invest for its future growth.

Aberdeen-headquartered energy services firm Tendeka has been acquired by Saudi Arabian oilfield services company TAQA.

Dhahran-based TAQA, not to be confused with the UAE-based oil and gas operator, has acquired 100% of Tendeka, it announced with the opening of International Petroleum Technology Conference in Riyadh this week.

Tendeka said the TAQA move will strengthen its capabilities in the Middle East and bring investment.

The Aberdeen-based company specialises in engineering and manufacturing technologies for oil and gas reservoir monitoring, advanced well production processes, and production optimisation technologies

Tendeka CEO Brad Baker said: “We are delighted to join the TAQA group. Tendeka has a rich history of providing innovative technologies for reservoir monitoring and production optimisation, and TAQA will contribute to our capabilities in the Middle East region as well as investing for our future growth.”

The value of the deal has not been disclosed.

As well as Aberdeen, Tendeka has bases in the US, Norway, UAE and Malaysia.

TAQA chairman Ahmed bin Musa Al-Zahrani said: “We continue to implement the ‘ TAQA 2021’ strategy to expand the scope of well services to become a leading global provider of services and equipment.

“The acquisition of Tendeka will complete our services and fill the completion gap Tendeka has an excellent technical and intellectual property base, a skilled workforce and a distinguished global presence, which will contribute to increasing our current and future offerings.”

TAQA was established in 2003, formed with the backing of the Saudi Public Investment Fund.

Other shareholders include Saudi Aramco and Riyad Bank.

The firm said its strategy is to expand its oilfield services and equipment portfolio through different investment approaches, varying from acquiring equity stakes to full acquisitions of international companies.

Tendeka was established in 2009 through the consolidation of energy services firms SwellFix, Sensornet and Well Technology.

 

Recommended for you

More from Energy Voice

Latest Posts