TAQA announced the divestiture of its stake in Air Liquide Arabia ("ALAR")

DHAHRAN, Saudi Arabia, Oct. 9, 2023 /CNW/ — The Industrialization and Energy Services Company (“TAQA”) announced today the completion of the sale of its stake in Air Liquide Arabia Limited Company (“ALAR”), with proceeds exceeding SAR 600 million.

“This transaction is in line with TAQA’s strategy to rationalize our non-core portfolio and divest investments that are not in line with our growth plan, the proceeds will enable us to further invest in growing our core organically and acquire more technologies to further enhance TAQA Well Solutions offering.”

Khalid Nouh, TAQA’s Chief Executive Officer

About TAQA

Founded in 2003 and with 54% ownership by the Public Investment Fund of Saudi Arabia, TAQA (The Industrialization and Energy Services Company) is an international company headquartered in Dharan and Abu Dhabi that offers leading well solutions for the energy industry and is creating value and opportunity for all its stakeholders. TAQA has more than 5,000 people in more than 20 countries and serves multiple markets. TAQA offers a complete well solutions portfolio that includes Coiled Tubing and Stimulation, Cementing, Wireline, Frac, Directional Drilling, Downhole Tools, Completions, Well Testing, Slickline, Inspection, H2S Safety, and Logging and Perforating.

Contact:

TAQA Corporate Communications

[email protected]

+966 13 328 8090

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