Arkema forms oilfield chemicals JV, closes coating resins unit

摘要

Arkema says that its Ceca filtration and adsorption subsidiary has established a joint venture with Watan Industrial Investment (Riyadh) to operate an oilfield chemicals blending plant and storage facility at Ad Dammam, Saudi Arabia. The jv will acquire a storage and blending facility at Ad Dammam under the terms of the partnership. The facility is scheduled to become operational in the second half of 2014. Ceca owns the majority of the jv and, until now, had had no commercial or industrial presence in Saudi Arabia, Arkema says. The company's oilfield chemicals offering includes demulsifiers and corrosion inhibitors. "The oilfield production chemical market is growing at a steady rate of 5%/year, and the Middle East is one of the most dynamic regions," says Marc-Antoine Mallet, managing director of Ceca. "This partnership in Saudi Arabia offers us an ideal opportunity to serve the region's major producers and will enable us to capitalize on local growth. With this new site, we aim to become a major player in the region."