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People & Business :: Earnings/Finance

Flotek to launch Oman JV with Gulf Energy subsidiary

4:39 PM MST | November 7, 2013 | Vincent Valk

Oilfield chemicals and services firm Flotek Industries (Houston) is planning to launch a joint venture in Oman with Tasneea Oil and Gas Technologies, a subsidiary of Gulf Energy, Flotek says. The deal will create an oilfield chemicals and services company, called Flotek Gulf, focused on markets in the Middle East. The jv’s assets will be owned 55% by Flotek, and 45% by Tasneea. The jv also plans to start construction on a new oilfield chemicals manufacturing and blending plant in Oman in early 2014 to serve the local market.. Tasneea will contribute real...

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