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The Industrialization & Energy Services Company (TAQA), Dhahran 4088-34455, Building: 15 - Eastern Province, The Kingdom of Saudi Arabia

Azzam Shalabi, TAQA’s Chief Executive Officer, said that the takeover is part of the company’s 2020 strategy to supportSaudi Vision 2030, broaden the portfolio of TAQA’s operations and investments, and contribute to the localization of the Kingdom’s oil and gas services sector. He added that the takeover will grant TAQAthe unique technical capabilities and the scale to boost its competitiveness, efficiency and profitability. Shalabi went on to say: “SISAL, to be known as TAQA Sanjel from now on, is a leading oil field services provider that enjoys a distinguished track record of providing specialized services to Saudi Aramco. The takeover, he said, will put TAQA Sanjel on the right track towards acquiring more market share locally and expand in the region.Also, the takeover will fast track thecompany growth in the national and regional oil and gas services sectors. It is also an important way to expand the company’s profit centers and create more jobs for national talents. TAQA Sanjel’s core competency is to fulfill the needs of its customers through being a solution provider. The company works hard to fulfil its mission of providing exceptional value for its customers through delivering safeand industry standards compliant well operations. The company’s work is carried out by a team of more than300 technical and operational professionals, and this number is set to grow as the company works to increase its nationalization rate, which stood at 45% of its working staff by the end of 2016. TAQA is determined to broaden the scope of its offered services in geosciences,onshore and offshore drilling; production & completion through direct investments into its subsidiaries and affiliates or establishing new companies. TAQA aims to be the national oil field services and equipment champion that supports Saudi Vision 2030 through active contribution to national growth, localization of the energy services sector, the transfer of technology and know-how, and creating employment opportunities for the Saudi talents.

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TAQA strategic thrust is to become a regional (OFSE) player servicing the MENA markets.