News

Great to catch up with Phil Scott, Managing Director and Mourhaf Jabri, General Manager, Middle East in a week which has seen some major news for the oil & gas industry, Helmerich & Payne's acquisition of KCA Deutag for almost US$2 billion will have a major impact on the region, given KCA Deutag's strong Middle East presence.

Based in Scotland, Intervention Rentals has been a much-respected player in the international energy sector with a 17 years track record, providing flowline equipment, wellhead services, as well as best-in-class calibration and measurement services.

The company has branched out into iron management to fully embrace a circular economy philosophy. They are currently focusing on understanding and measuring their carbon output, planning carbon reduction in their operations and supply chain in line with scope 3 GHG protocols. Intervention Rentals Sustainable Solutions division leads the way with advanced Dissolved Air Flotation (DAF) technology, providing an economical and efficient solution for wastewater treatment.

Phil Scott has been leading expansion plans for the company and notably in November 2023 Intervention Oilfield Equipment Rentals LLC was opened in Abu Dhabi in collaboration with the Al Yaseah Group. Their Middle East business in Saudi Arabia and the UAE has seen significant investment and regional support in the form of new premises, additional assets, key points of contact and milestone deals with key partners.

The EIC (Energy Industries Council) DataStream project database is now tracking 176 energy projects in Saudi Arabia 2024 and the market value for the region is US$222 billion for the period to 2030:-

• Oil & Gas (upstream, midstream and downstream) – US$131.3 billion (82 projects);
• Power and transmission/distribution – US$46.4 billion (54 projects); and
• Energy Transition (renewables, hydrogen, CCS, energy storage) – US$44.5 billion (40 projects).

A key driver will be King Salman Energy Park (SPARK), a 50 km2 complex in the Eastern Province in the vicinity of Abqaiq. SPARK is an Aramco subsidiary which, when completed, will be a fully integrated energy hub with cutting-edge facilities and infrastructure, including a 3 km2 dry port and logistics zone, and with accessibility to King Fahd International Airport, King Abdul-Aziz Seaport, the GCC highway and, in the future, the GCC railway.

Ahead of the EIC Technology Showcase on 3 September, HFI has recently launched the summer editions of its SAVI - Saudi Arabia Ventures Initiative eGuidebook and its Local Partner Ventures eGuidebook to support clients to navigate the Saudi energy market, copies available from Sally Reeves, HFI's Client Relations Manager.