ABU DHABI, UAE Oilfield services provider AlMansoori Specialized Engineering (MSE) has signed a multi-million dollar deal to acquire the tubing conveyed perforation (TCP) division of Energy Inc. as part of MSE's business development plan in Egypt.
"The acquisition of the TCP division of Energy, Inc. will strengthen our offering to the global oil and gas industry, while extending our scope of services in Egypt, which we see as a major consideration for future expansion. The acquisition is part of our overall goal to be one of the major players providing oil and gas services in the region," says Nabil Alalawi, managing director of MSE.
This acquisition marks MSE's third venture into the Egyptian market. In July of last year, the company acquired Cairo-based service company Gulf Petroleum Investments in a multi-million dollar deal. MSE's first venture into the Egyptian oil and gas sector was the acquisition of production testing, drill stem testing, and memory gauge equipment company Alpine Oil Services Egypt.