Shoaibi, Drilltec sign joint venture
Al Khobar, December 30, 2010
Saudi-based Shoaibi Group has entered into a joint venture with Drilltec, the leader in tubular thread protectors, to manufacture thread protection products for the oil country tubular goods (OCTG) industry.
The joint venture Drilltec Saudi Arabia (SA) will set up a local manufacturing facility to manufacture and sell Drilltec’s thread protectors and related products and services throughout Saudi Arabia and Bahrain and their respective territorial waters.
Drilltec SA will offer a comprehensive line of products and equipment that protect tubular goods from impact damage caused during transportation and corrosion damage during storage.
The joint venture will manufacture thread protectors meeting API 5CT Annex I standards as well as Drilltec’s rigorous global quality standards in Saudi Arabia, a statement said.
Drilltec Acquisition Holding Corporation is a wholly owned subsidiary of Drilltec Parent Holding Corporation. – TradeArabia News Service