Alpha Dhabi Holding has acquired a 51 percent stake in NTS Amega Global, a renowned cutting-edge manufacturing, repair, and rental solutions provider in the Oil & Gas sector.
With this acquisition, NTS Group cements its position as a global frontrunner in producing drilling, subsea, top-side, and process components. This encompasses repairing Measuring and Logging While Drilling (MWD/LWD) tools and renting specialized Bottom Hole Assembly (BHA) drilling equipment.
NTS Group’s operations now extend across nine pivotal O&G locations, including the UAE, where it is headquartered, Saudi Arabia, Houston-Texas, Canada, Guyana, Norway, Singapore, Midland, and Lafayette.
In 2019, NTS Group was acquired by a joint venture between TUBACEX, a leader in advanced materials and solutions for a sustainable future, and ADQ. In 2020, NTS Group further solidified its global presence by acquiring Amega West Services LLC from Carpenter Technology Corporation.
Mr. Jesus Esmoris, CEO of TUBACEX, commented that “Our partnership with Alpha Dhabi in NTS embodies TUBACEX’s commitment to superior performance and innovation, particularly in offering sophisticated industrial products and services from a multi-energy perspective. With the backing of Alpha Dhabi, we stand at the threshold of not only setting new benchmarks in the industry but also driving pivotal transitions toward decarbonization, with gas serving as a bridge in this energy transition.”
The acquisition is pivotal for the oilfield services market, which is expected to grow with a CAGR of 5.5 percent between 2022-2027. According to a recent report, the global oilfield services market size is projected to reach $346.45 billion by 2027.
The acquisition will support and bolster NTS’s innovative contracting options, including Global Framework Agreements, Local Repair/Manufacture hubs, and Stock Management Programs, all designed to reduce costs, improve lead times, and increase equipment availability while maintaining the highest levels of quality and service.