UAE: Oil and Gas Industry Versalis, Petrochem and Mazrui Energy Form JV for Oilfield Chemicals
The new joint venture firm was launched at Adipec 2018 in Abu Dhabi. The company intends to make use of locally manufactured oilfield chemicals to stay ahead of the competition in the region.
Abu Dhabi/UAE – Versalis, the Eni chemical company; Petrochem (a Mazrui Energy Services Company), a leading manufacturer of drilling fluids; and Mazrui Energy Services (a Mazrui International Company), a leading service company in the oil & gas industry in the Middle East have recently signed an agreement to establish Versalis Petrochem Mazrui (VPM), a joint venture for the commercialisation of innovative chemicals for the oil & gas industry in the Middle East.
The new company, launched at Adipec 2018, the primary oil & gas trade fair held in Abu Dhabi, will mainly use locally manufactured oilfield chemicals to ensure prompt product availability and competitive advantages in terms of logistics, reliability and customer assistance, within a highly demanding and specialist market such as the Middle East.
Versalis Petrochem Mazrui is already well positioned to offer a broad portfolio of high value-added oilfield chemicals under the brand Versalis e, designed to meet the specific needs of the oil & gas sector, improving the quality, quantity, reliability, and sustainability of production.
The new JV draws on Versalis’ expertise and long-standing experience in industrial production and, in particular, will look to leverage its research and development capabilities to guarantee flexible, responsive, and personalised services to the end customer. The partnership with Mazrui will enable greater proximity to customers and the ability to compete against major players in the market.
The partnership will enable Versalis to extend its oilfield chemicals business to the Middle East, (Gulf Cooperation Council countries, Yemen and Iraq), following its recent access to the US market, which is an important springboard for the Gulf of Mexico area and the Americas. Versalis already operates in Africa through commercial companies in Ghana and Congo, and in Italy with activities throughout the whole country.