Saudi Makamin Company has acquired major shares in Zencus International Limited. Saudi Makamin is a Saudi oilfield services group which is backed up by $320 million of capital. Established in Riyadh in 2008, it aims to build a portfolio of new technologies and services for regional operators in the Gulf. This services portfolio includes exploration technology, Geosciences studies, Drilling, Pipeline services, Industrial services, advanced production systems, well services and integrated project management. The investment in Zencus follows a number of recent strategic investments and partnerships by Makamin.

Dr. Ali Al Buraidi, Makamin Managing Director, said Makamin is delighted with this recent investment in Zencus. “It again demonstrates the commitment of Makamin to deliver new and innovative technological solutions to oil & gas producers in the Gulf region by adding value to their activities. The Zencus investment and local Joint Venture infrastructure will significantly broaden and enhance the range of products that Makamin can offer our oil-industry clients in the region,” he said.

Zencus Managing Director, Alan Baker, also expressed satisfaction of the acquisition. He said: “We are delighted to have Saudi Makamin Company as a major shareholder. Makamin’s strong ties in the Gulf region, local operating infrastructure and substantial financial resources will be a major boost to the activities of Zencus globally but particularly in the GCC countries and Middle East region. We are particularly pleased that Makamin are supporting an ambitious R&D program that will ensure that Zencus products stay at the forefront of technological development.”

Zencus Technical Director, Ian McMurray, added that Zencus has developed pioneering and cost effective real-time data acquisition solutions using wireless instruments and web-based software for major clients in the oil and gas sector. The Makamin investment and resources will further strengthen the company’s ambitious R&D program to deliver innovative technology-based products that provide added value to our clients.”