- Acquisition establishes NTS Group as a global leader in manufacturing, repair and rental of tools for the Oil & Gas sector
Dubai, October 12th, 2020. NTS Group has acquired Amega West Services, a market leader in the manufacture, repair and rental of legacy and specialized drilling equipment used in offshore and land-based Oil & Gas extraction applications, from Carpenter Technology Corporation. With headquarters in Houston and founded in 2007, Amega West has production and service plants in the United States, Canada and Singapore.
With this acquisition, NTS Group establishes itself as a global leader in manufacturing of drilling, subsea, top-side and process components, repair of Measuring and Logging While Drilling (MWD/LWD) and drilling equipment, as well as rental of legacy and specialized Bottom Hole Assembly (BHA) drilling tools. A supply agreement has been signed with Carpenter Technologies to ensure the continued use of Carpenter’s proprietary non-magnetic alloys.
NTS Group will now have eight manufacturing and service facilities across strategic O&G locations.
Established in the UAE in 2006, NTS Group was acquired in 2019 by a joint venture between TUBACEX and ADQ’s Senaat with the goal of creating a global specialist manufacturing and services company for drilling tools and equipment.
Paul McMillan, NTS Group CEO, commented “The addition of Amega West Services transforms NTS Group from a regional to a global service provider to the Oil & Gas sector. From our strategic hubs, we will combine the strengths of both companies to offer customers an unrivalled range of manufacturing, repair and rental options. As a supplier of integrated, high-tech solutions, we are looking forward to building even closer ties with key customers.
Reddy Godula, Amega West President, commented “Amega team is thrilled to join NTS Group. Collectively we will further enhance our strong position in North America and expand as a global force with a complementary portfolio. Our customers are equally excited about the acquisition as we transform from a supplier to a partner and total solution provider. We look forward to a bright future.”
NTS’s services will be configured under a range of innovative contracting options to include Global Framework Agreements, Local Repair / Manufacture hubs and Stock Management Programs, aimed at reducing cost, improving lead times and increasing availability of equipment, while maintaining the highest levels of quality and service.
About NTS Group
With headquarters in the UAE, NTS Group is a global leader in the complex manufacture of Drilling, Subsea, Topside & Process Components, repair of MWD / LWD & Drilling Equipment and legacy and specialized BHA tools for the Oil & Gas sector.
It has manufacture and repair facilities in USA, Canada, Norway, Saudi Arabia, UAE and Singapore.
Through a joint venture established in 2019, NTS Group is owned by TUBACEX and ADQ’s Senaat.
www.ntsgroupco.com
About TUBACEX
TUBACEX is a multinational group with its headquarters in Alava and a global leader in the manufacture of stainless steel and high-alloyed tubular products (tubes and accessories). It also offers a wide range of services from the design of tailored solutions to installation and maintenance operations.
It has production plants in Spain, Austria, Italy, the United States, India, Thailand, Canada, Singapore, Norway, Saudi Arabia and Dubai, a worldwide network of service centers, and sales offices in 38 countries.
The main demand segments for the tubes manufactured by TUBACEX are the oil and gas, petrochemical, chemical and power generation industries.
TUBACEX has been listed on the Spanish Stock Market since 1970 and is part of the “IBEX SMALL CAPS” Index.
www.tubacex.com
About ADQ
With headquarters in Abu Dhabi, ADQ was established in 2018 as a public joint stock company (PJSC). It holds a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diverse economy, including utilities, tourism and hospitality, aviation, transportation, logistics, industrial, real estate, media, healthcare, food and agriculture, and financial services.
As a strategic partner of the Government of Abu Dhabi, ADQ is committed to supporting the development of Abu Dhabi as a modern, competitive, prosperous and sustainable economy. ADQ stimulates value creation by developing prominent cluster ecosystems and instilling a performance culture across its portfolio of companies. ADQ is also an asset owner and investor in target sectors, both locally and internationally, which align with Abu Dhabi’s leadership vision.
For more information visit adq.ae or write to media@adq.ae.