Saudi TAQA to enter Egypt’s offshore oil well services sector

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The company is currently operating in Egypt’s Western Desert until the end of the coming year under several contracts signed with Egyptian oil companies

Staff Writer, Arab Finance

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The Industrialization and Energy Services Company (TAQA) is considering investing in the Egyptian offshore oil well services sector to boost its targeted growth rates in the coming years, Vice CEO of Well Solutions at TAQA Aamir Naseem told Al Arabiya Business.

The company is currently operating in Egypt’s Western Desert until the end of the coming year under several contracts signed with Egyptian oil companies, Naseem pointed out.

He added that the firm’s current strategy revolves around doubling and diversifying its investments in Egypt, saying that its investments in Egypt will be tripled or quadrupled in 2024 as compared to 2023.

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