News

It is great to support Mark Miller and Chuck Matula of Workover Solutions (WOS) to implement the company’s Middle East business expansion. Mark founded WOS in 2015 and currently serves as CEO and Chuck is VP MENA. We also very much welcomed the opportunity to work again with Jordan Strouse, WOS's US counsel and a long-standing friend of HFI.

Backed by EV Private Equity, WOS’s hallmark rests on advanced patented technology and know-how, providing quality thru-tubing technology and wireline services to the completions and production markets. The WOS team is comprised of industry veterans spanning all regions of the energy industry with proven experience and cutting-edge solutions.

Saudi Aramco has just reported half-year profit of $56 billion and HFI is looking forward to attending EIC (Energy Industries Council)’s KSA Connect Open Day, which can be registered for by clicking here. This event will mark the debut of the KSA SupplyMap, a unique and meticulously verified map showcasing the energy sector supply chain companies throughout the Kingdom. This tool offers unparalleled insights for businesses aiming to expand their presence in the region.

Additionally, EIC will release its updated KSA Country Report, the first since 2019, providing detailed insights into the current dynamics of each energy sector, key projects, operators and contractors.

In the wider energy context, PIF has recently announced the signing of three new agreements to localise in Saudi Arabia the manufacturing and assembly of equipment and components needed for solar and wind power. The three JV agreements include:-

• Envision Energy and Vision Industries to transform Saudi Arabia into a manufacturer of wind turbines and components;
• Jinko Solar and Vision Industries to localize production of photovoltaic cells and modules; and
• A subsidiary of TCL Zhonghuan Renewable Energy and with Vision Industries to localise production of ingots and wafers for solar power.

The three JVs represent the latest in a series of investments by PIF in the utilities and renewables sector to support Saudi Arabia’s energy needs and consolidate its position in the field of clean power and are in line with Saudi efforts towards achieving Vision 2030 targets.

In recognition of the scale of the energy opportunities in Saudi, HFI will this week launch the updated summer edition of its Saudi Arabia Ventures Initiative (SAVI) eGuidebook to support clients to navigate the Saudi energy market, copies are available from HFI's Client Relations Manager, Sally Reeves.