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Date : 1st June 2011

Al-Jarbou : TAQA A success story of the idea was adopted and sponsored by the Ministry of Petroleum


During a ceremony held by the company to honor him after his term as Chairman of its Board of Directors


Al-Jarbou : TAQA A success story of the idea was adopted and sponsored by the Ministry of Petroleum

"Aleqt" : Riyadh
A Board of Directors of Industrialization and Energy Services 'TAQA' Finally established a ceremony  in honor of the Chairman of the Board Council at its previous session, Dr. Abdel Aziz Al-Jarbou, attended by a number of governors , businessmen and employees of the company. Dr. Al-Jarbou in a speech at the ceremony, when I talk about ''TAQA'' I'm talking about the success story of the idea was adopted and sponsored by the Ministry of Petroleum and Mineral Resources from the outset, I mention here, Ali al-Naimi, Minister of Petroleum and Mineral Resources, and Prince Faisal bin Turki bin Abdul Aziz Al Saud, who were two of the biggest role in the adoption and support of strategic objectives for ''TAQA'', and take the lead in transforming the government's share in the Arabian Drilling Company and Arabian Geophysical and Surveying "ARGAS" to a Saudi Joint Stock Company, based on the foundations of an investment business, and apply the highest standards of corporate governance, as a national company that bears the name of a company manufacturing and energy services 'TAQA''. He added ''It was converting the government's share in those two companies consolidate the privatization program initiated by our government - in all economic fields, as has become the government owns 40 per cent represented by the Public Investment Fund and 5 percent for Social Security, while has a 55 per the remaining 30 percent industrial investor from the private sector, including public joint stock companies and other private, all working in the field of oil and gas in various industries, and in the field of water, electricity, petrochemicals'. Dr. Al-Jarbou, who took over the company's board from 2003 until May 2011, that in the stage of establishing the company was focusing on several main themes, notably: the development of acquired inheritance in Arabian Drilling Company and ARGAS Company, doubling the volume of business therein, and to provide financial and administrative support continued for them, and the work of the Strategic Studies aimed to expand the new business is synonymous with drilling, seismic surveys, and increasing the capital of the company from $ 500 million riyals to two billion riyals, so the company to grow either through acquisitions or engage in the establishment of new investments''.

He said: ''I remember you explaining our aspirations, and goals to the Minister of Finance, who did not hesitate for a moment his Excellency  approval to increase capital, but government involvement also in this increase, which created a state of full satisfaction of all employees in the company, but widened their horizon of the stage the next depending on the support and backing to enter the company's strategic projects and new investments, namely: First, buy a 49 per cent of the company (ARDISEIS) in Jebel Ali in the UAE, which was owned by our partner (CGGVARITAS) in the company ''ARGAS' ', where the company has adopted a strategic decision to focus its business in all the Gulf States. The success of the negotiations of the acquisition of that which We imposed a condition of doing business in the Gulf countries outside the UK by our company ARGAS ''national'', which has had a great impact in the productivity of ARGAS Company on the one hand, and to maximize the profitability of (ARDISEIS CO. ) as well. Second, we enter a key partner by 51 per cent in the establishment of the first industrial complex for the production of seamless pipes (JESCO) in Jubail Industrial City, is the first of its kind in the Middle East and Africa, with total investment close to three billion riyals. Was the ''TAQA'', co-leader of this giant project, which owns 51 per cent of it, which was a major challenge in the beginning, where was met with rejection and the discrediting of many of the leaders of the industry in which our world. Now, we produce in this edifice finest pipes in terms of intensity with oxidation and chemical reactions and pressure, these tubes are used in wells that reach depths of four thousand to six thousand meters. To illustrate in practice, the pressure of the water in the pipes any house up to ten pounds on the square inch, while the tube is made to bear the pressure we have over 25 thousand pounds of pressure to the square inch. We are proud that ''Saudi ARAMCO,'' and a number of industrial companies in various countries of the world's most important customers for our products from these tubes, as a total being exported to the United States only since the start of commercial operation in 2011, the current, more than ten thousand tons per month more than 400 trucks per month, as well as close to the quantities shipped to Saudi ARAMCO month. Turning to that on April 15 2011,  the current, we celebrated the grace of God, the lapse of 11 million labor hours without any injuries. Mr. Majed Al-Muqla, vice president of Saudi ARAMCO, and the presence of senior executives, the distribution of certificates of appreciation to officials in this edifice of industrial pioneer, as the Saudi ARAMCO, was and is still supportive and catalytic largest settlement of industries and rehabilitation skills and national human resources''.

 

 

 
 
 
 
 
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