News

It was great for HFI to work with Christoph Raszczyk, General Manager, Maxwell Oil Tools on the company’s Middle East business expansion. Maxwell Oil Tools is a leading designer and manufacturer of advanced composite centralizers and other tools for drilling and tubular applications. 

With over 25 years of industry experience, Maxwell is renowned for its revolutionary Multilayer Composite Component (MCC) technology, which combines high wear resistance with exceptionally low friction factors. Operating in Italy, Poland, KSA, and the UAE, Maxwell serves customers globally with its cutting-edge technology and manufacturing capabilities and its fluid bypass technology addresses centralization and casing run challenges associated with today’s increasingly complex wells. 

The Maxwell team are exhibitors at IPTC2024 in Dhahran. As IPTC 2024 showcases the world’s leading advanced petroleum technology this week, the industry is grappling with the news that Saudi Aramco has elected to consolidate its 12 mbpd production capacity rather than stretch out to 13 mbpd by 2030.  

The EIC Energy Industries Council DataStream project database in its latest report was tracking 173 Saudi energy projects with a value of US$211 billion for the period to 2030 so this latest news will leave in place a massive capex and opex programme over the next 7 years if the 12 mbpd capacity is to be maintained.

Artificial Intelligence (AI) was the centre-stage today at IPTC with Musab Al-Modrra leading discussions at Ask the Expert Session: Synergy Unleashed: Harnessing AI and Technology for Augmented Decision Making and Enhanced Knowledge Management with panel members; Ashraf Al-Tahini, Vice President, Upstream Digital Center - Aramco, Saleh M. Al-Saleh, VP of Characterization & Field Development Geosciences - Aramco, Sophie Zurquiyah, CEO - CGG, Abdullah Abdulrahman AlDawod, General Manager, Mega Accounts Sales.

IPTC is proving an excellent opportunity to check in with HFI’s clients and connections on their Middle East ventures. HFI’s SAVI – Saudi Arabia Ventures Initiative (SAVI) supports advanced petroleum technology and energy transition technology ventures in Saudi Arabia, supporting clients to address key challenges including foreign ownership laws, local partner agreements, technology licences, manufacturing facilities contracts, corporate taxation, IKTVA and Saudisation.  

All roads lead to the Kingdom this month and HFI is very much looking forward to taking part in EIC’s Saudi Arabia Connect in Dammam on 27th February