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Alpha Dhabi acquires major stake in NTS Amega Global

Investment holding firm bolstering its oil field services portfolio

Alpha Dhabi Holding, one of the fastest-growing investment holding companies in the UAE, on Wednesday announced its acquisition of a 51 per cent stake in NTS Amega Global. This acquisition underscores Alpha Dhabi’s unwavering commitment to enhancing its energy portfolio, with a keen focus on the oil field services sector.

With this acquisition, NTS Group, known for its cutting-edge manufacturing, repair, and rental solutions in the oil and gas sector, cements its position as a global frontrunner in the production of drilling, subsea, top-side, and process components. This encompasses the repair of measuring and logging while drilling (MWD/LWD) tools and the rental of specialised bottom hole assembly (BHA) drilling equipment. NTS Group’s operations now extend across nine pivotal oil and gas locations, including the UAE where it is headquartered, along with Saudi Arabia, Houston-Texas, Canada, Guyana, Norway, Singapore, Midland, and Lafayette.

Eng. Hamad Salem Al Ameri, chief executive officer and managing director of Alpha Dhabi, said: “This acquisition is a clear reflection of our unwavering commitment to grow and drive value in our energy portfolio. By investing in companies that align seamlessly with our oil field services operations, we remain true to the core principles of our growth strategy. Our collaboration with industry leaders like NTS Group is a strategic move to not only accelerate our growth but also to expand and diversify our presence across various markets and regions.”

Established in 2006 in the UAE with the goal of creating a global specialist manufacturing and services company for drilling tools and equipment. In 2019, NTS Group was acquired by a joint venture between TUBACEX, a leader in advanced materials and solutions for a sustainable future, and ADQ. In 2020, NTS Group further solidified its global presence by acquiring Amega West Services LLC from Carpenter Technology Corporation.

Jesus Esmoris, chief executive officer of TUBACEX, said: “Our partnership with Alpha Dhabi in NTS embodies TUBACEX’s commitment to superior performance and innovation, particularly in offering sophisticated industrial products and services from a multi-energy perspective. With the backing of Alpha Dhabi, we stand at the threshold of not only setting new benchmarks in the industry but also driving pivotal transitions toward decarbonization, with gas serving as a bridge in this energy transition”.

The acquisition comes at a pivotal time for the oilfield services market, which is expected to grow at a compound annual growth rate (CAGR) of 5.5 per cent between 2022-2027. According to a recent report, the global oilfield services market size is projected to reach $346.45 billion by 2027.

The acquisition will support and bolster NTS’s contracting options, including global framework agreements, local repair/manufacture hubs, and stock management programms, all designed to reduce costs, improve lead times, and increase equipment availability, while maintaining the highest levels of quality and service.