Middle Eastern maritime and logistics firm Milaha has signed a memorandum of understanding (MoU) with American oilfield services firm Schlumberger to order oil well stimulation vessels for work in Qatar.
Milaha’s Offshore & Marine arm and Schlumberger entered the formal agreement as a five-year joint development project that will include ‘Qatar-owned, flagged and operated’ well stimulation vessels.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
According to Milaha, the first of these offshore stimulation vessels will be designed and outfitted in Qatar.
The cooperation will also support the TAWTEEN initiatives for Qatar.
Led by Qatar Petroleum, the TAWTEEN is a localisation initiative that will focus on the energy sector’s supply chain and expansion of the small and medium enterprises base in Qatar.
It also aims to create new investment opportunities to retain economic value in the country.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataIn a press statement, Milaha stated: “The resulting Qatar-owned value chain will be a joint service that enhances the expertise of a global multinational service firm like Schlumberger, as well as the leading Qatar-based multi-disciplined local service company like Milaha.”
Schlumberger is a provider of seismic acquisition and processing, artificial lifts, well completions and groundwater extraction, as well as well testing and directional drilling. It has been serving Qatar’s oil and gas sector for more than 70 years.
In February 2019, Qatar Petroleum signed agreements worth more than QR9bn ($2.47bn) with international oil and gas firms as part of a localisation programme to boost the domestic energy industry and reduce dependence on imports.
