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Monday, February 27, 2017
:: TAQA :: - Who We Are
Home About Us Who We Are
The Industrialization & Energy Services Company (TAQA) was established by Ministerial Decree in May 2003 and obtained its commercial registration later that year.

TAQA is a Saudi Joint Stock Company and has been endorsed by the Ministry of Petroleum & Mineral Resources since its inception and during its formative stages. TAQA is owned 45% by the Saudi Government, while the remaining 55% is owned collectively by Joint Stock Companies and several private and industrial investors representing a cross-section of the Saudi industrial community.

The Government's share through the Public Investment Fund (PIF) was contributed in-kind by transferring from Petromin to TAQA the Government's 51% ownership in the Arabian Drilling Company (ADC) and the Arabian Geophysical and Surveying Company (ARGAS). The balance of TAQA's share capital is now SAR 5 Billion.

The company's main objectives are to localize industry, transfer technologies, increase local content and create employment opportunities for Saudi nationals.

While serving as a platform to attract equity partners and to form strategic alliances, TAQA plays the role of a project developer. Its broad charter allows the company to participate in a spectrum of activities including oil and gas exploration and drilling, conducting geophysical surveys and establishing a wide range of industries and services in support of oil and gas, metals, petrochemicals, mining, electricity and water sectors, either directly or by forming specialized subsidiaries.
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