News

HFI was delighted to meet Stefan van Diessen, Managing Director and Maarten van Geuns, Manager Sales and Marketing of VertiDrive in April as part of VertiDrive’s Technology Showcase Day in Saudi.  VertiDrive, established in 2008, is an innovative company that designs safe, environmentally friendly and cost-effective robotic crawler solutions and is the world’s leading solution provider for surface preparation using ultra high-pressure water jetting (UHPWJ) or abrasives.

We have been pleased to support VertiDrive under our SAVI - Saudi Arabia Ventures Initiative which focusses on 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 Saudization. Please see the SAVI eGuidebook - here.

We are privileged to work with our local law network partner Bader AlBusaiyes, FCIArb on these ventures, and 2024 marks 5 years of our collaboration arrangements.

A key part of success in the Saudi energy market is invariably the leveraging of the capabilities and resources of the right local partner but Local Partner Ventures (LPVs) too often result in under performance or contentious exits. We are committed to playing our role in working hard to establish stable win/win LPVs from which MENA businesses can grow including the US$200 billion Saudi energy market. Please find the HFI LPV eGuidebook – GOTECH 2024 Edition - https://www.flipsnack.com/855FBDFF8D6/2024-05-02-lpv-q2-2024-eguidebook-gotech-edition/full-view.html

Our LPV Solutions and Services offering is now being rolled out across MENA as part of our SAVI, ADVI - Abu Dhabi Ventures Initiative and now Oman Ventures Initiative – OMVI programmes. We will be delighted to meet clients and connections to discuss further at the key events coming up this month in the region including GOTECH 2024 in Dubai, EIC (Energy Industries Council) Connect UAE in Abu Dhabi, Society of Petroleum Engineers International Well Integrity Symposium in Al Khobar and Make it in the Emirates Forum in Abu Dhabi.