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Date : 7 November 2013

ARGAS signs deal to join Dhahran Techno Valley

Arabian Geophysical and Surveying Company (ARGAS) has joined Dhahran Techno Valley, according to an announcement from Dhahran Techno Valley Company at King Fahd University of Petroleum and Minerals (KFUPM).

ARGAS is partnership between Industrialization and Energy Services Company (TAQA) and Compagnie Generale de Geophysique (CGGVeritas, France).
The signing ceremony was held at the KFUPM in the presence of its Rector Khalid Al-Sultan and DTVC Chairman Amin H. Nasser, SVP, upstream operations, Saudi Aramco;Abdulrahman M. Bin Zarah, president TAQA; Saad Al-Aqil CEO of ARGAS, and officials of KFUPM, Saudi Aramco, ARGAS and DTVC board members. The agreement stipulates establishment of ARGAS center for research and innovation in the field of earth sciences and advanced data processing of seismic survey.

Al-Sultan stated that ARGAS will establish a technology center with an area of 6,700 square meters and will begin operation within 3 years. The companies who have already established their technology centers include Schlumberger, Yokogawa, Baker Hughes, GE, Honeywell, Rosen, and Amiantit. Whereas, Halliburton, Weatherford, Sipchem, and Invensys are in different stages of construction. DTV is the largest cluster in the world specializing in the field of energy related technology development activities collaborating with resources available in KFUPM and the giant national company, Saudi Aramco.

Saad bin Saud Al-Aqil, ARGAS CEO, said the planned budget for the establishment of the Technology Center was $30 million. Al-Aqil pointed out the importance of the role of the private sector in the talent development by training in the latest technologies and equipments in this vital area of the nation's economy.

Halim Hamid Redhwi, CEO (A) of DTVC, said the company would promote commercially viable innovation originating at the university and partner companies by providing support and services to bridge the chasm between research and production and establishing scientific and industrial ecosystem making the company Middle Easts research, development, and technology nucleus.

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