Flotek, Gulf Energy to develop Omani chemistry production facility
Flotek Industries, a US-based developer of oil field technologies, has entered into an agreement with Oman-based Gulf Energy's affiliate to develop advanced oil field chemistry production and research and development (R&D) facilities in the sultanate.
The chemistry production facility, which is expected to cost around $10m, will be located near the Omani port of Sohar, while the R&D facility in or near Muscat, Oman.
Under the agreement, Flotek will own 60% of two new Omani-registered limited liability companies and will begin shipping certain oil field chemistries to the region in the coming weeks, prior to the completion of the production facility.
Upon its completion, the production facility having similar capabilities as Flotek's current facility in Marlow, Oklahoma, and will market and provide oil field chemistry services to projects throughout the region.
Flotek chairman, president and chief executive officer John Chisholm said: "Combining Flotek's advanced oil field chemistry solutions, Gulf Energy's existing clients and the best research minds in the region is a formula that should create a leading oil field technology effort in the Middle East and North Africa."
The partnership will jointly market the products and services along with Flotek's international marketing partner Basin Supply Company, which will serve as the marketing and logistics facilitator for the sales and continue to work with the joint venture, once the production facility is complete.
Gulf Energy chief executive officer Hilal Al Busaidy said: "We look forward to developing our partnership into a leader in oil field chemistry throughout the Middle East and North Africa."