Shoaibi, Drilltec sign JV to manufacture thread protection products for the OCTG industry in KSA and Bahrain

Shoaibi, Drilltec sign JV to manufacture thread protection products for the OCTG industry in KSA and Bahrain

Shoaibi Group enter into a joint venture with Drilltec Acquisition Holding Corporation, a wholly owned subsidiary of Drilltec Parent Holding Corporation to form Drilltec S. A. Ltd. Drilltec S.A. will set up a local manufacturing facility to manufacture and sell Drilltec’sthread protectors and related products and services throughout the Kingdoms of Saudi Arabia and Bahrain and their respective territorial waters.

DrilltecSaudi Arabia Ltd., will offer a comprehensive line of products and equipment that protect Oil Country Tubular goods (“OCTG”) from impact damage caused during transportation and corrosion damage during storage. The joint venture will manufacture thread protectors meeting API 5CT Annex I standards as well as Drilltec’s rigorous global quality standards in Saudi Arabia.

Drilltec is the leading globalprovider of thread protector products for the premium OCTG market. The Company has established a highly recognizable and respected brand that has become synonymous with the timely delivery of products of uncompromising quality. Drilltecis known for their highly engineered and comprehensive line of pipe-end thread protectors and packaging products which are considered to be the industry standard. The Company has been selling its products to many of the same pipe manufacturers, threaders, and end users of OCTG for over 30 years. In fact, many end users have written the use of Drilltec products into their specifications when placing orders with pipe manufacturers and threaders.

About Drilltec
Founded in 1979, Drilltec has established industry standards for protection of tubular goods against costly damage caused by corrosion or impact. Drilltec is recognized as the world leader for tubular thread protectors and pipe packaging systems.
Drilltec products are manufactured in the United States, Europe, Argentina, Japan, Southeast Asia, and Mexico.
Drilltec is dedicated to maintaining its leadership position in the industry through continued research and development directed toward better serving our customers needs.
For more information please visitwww.drilltec.com

About Shoaibi Group
Headquartered in Al Khobar, Kingdom of Saudi Arabia, with operations and investments across the Middle East and extending to North Africa, Europe, and North America, Shoaibi Group offers dedicated local marketing and technical expertise as well as commercial support that enable the development of innovative technology and shared opportunities in its operating markets.

Through its international partners, joint ventures, and subsidiaries the Group operates in manufacturing, services, product distribution, and investment predominately for the oil, gas and petrochemical sector across the MENA region. Shoaibi Group is dedicated to investing in research and technology that will offer oil operators proven game-changing applications for all phases of oil and gas developments.

For more information please visit www.shoaibigroup.com

Media Contact:
Mae Chami
Corporate Communications Manager
Shoaibi Group
Mae.chami@shoabigroup.com

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