Company Insights Taqa Saudi Arabia Energy Taqa Saudi Arabia Overview Taqa, established in Saudi Arabia in 2003, provides oil field services, equipment manufacturing and well solutions to the energy sector. Its subsidiary Taqa Well Solutions offers services from construction and drilling to inspection, safety and decommissioning. Taqa says it aims to contribute to Saudi Arabia’s Vision 2030 by “fostering innovation and local talent development”. It is majority owned by the Public Investment Fund and is not publicly listed. Taqa aims to double its business and services in Egypt, as well as expand into deepwater petroleum services by 2026. It has contracts with 20 oil companies for well maintenance and preparation in Egypt’s western desert. In March 2023 it set up Taqa Geothermal Energy, a joint venture with Reykjavik Geothermal from Iceland, and it has established a geothermal centre of excellence in Turkey. In addition to Taqa Geothermal Energy and Taqa Well Solutions, the company has other subsidiaries including Taqa Ventures and the Arabian Geophysical and Surveying Company (Argas). Taqa Saudi Arabia News Analysis Finance Egypt confronts sell-off of more state assets More sales of Egyptian state assets from petrol stations to wind farms are likely to be announced in the financial year to June 2025, according to people familiar with the negotiations. A deal with the UAE worth $35 billion to develop a resort at Ras El Hekma on the Mediterranean has eased the pressure on […] June 11, 2024 Posts navigation
Analysis Finance Egypt confronts sell-off of more state assets More sales of Egyptian state assets from petrol stations to wind farms are likely to be announced in the financial year to June 2025, according to people familiar with the negotiations. A deal with the UAE worth $35 billion to develop a resort at Ras El Hekma on the Mediterranean has eased the pressure on […] June 11, 2024
