ITS Group, Shoaibi Group form Saudi-based equipment company

Offshore staff

ABERDEEN, UK -- ITS Group and Shoaibi Group have formed a new company, ITS Arabia, following a joint venture agreement.

Based in Saudi Arabia, ITS Arabia will provide drilling equipment and associated services to regional oil and gas organizations. Plans are already under way to establish a machine shop facility for manufacturing, repair, and inspection activity, the company says.

The joint venture sells and rents out drill pipes, drill collars, stabilizers, drilling jars, casing running equipment, fishing tools, and pressure control equipment. ITS Arabia also offers fishing, tubular running, and a variety of machine shop services.

05/04/2009