The Industrialization and Energy Services Company (TAQA) announced that it has agreed to acquire a stake in OPT Petroleum Technologies Company Limited. Headquartered in Houston, with a presence in China, Southeast Asia, and the United Arab Emirates (UAE), OPT is a fast-growing oilfield chemicals company focusing on providing specialty chemicals for well construction and stimulation.
TAQA’s strategic partnership with OPT secures access to world-class specialty chemicals and products, which comprise a key component of the success and differentiation of TAQA’s services. Inspired by Saudi Aramco IKTVA program and aligned with TAQA’s corporate strategy, an investment of more than SAR 10 million in OPT will build local chemical research, engineering, and manufacturing facility in Dhahran (KSA), with a mandate to introduce new engineering solutions, create more jobs and promote local content of products and chemicals research and development (R&D) in the Kingdom.