TAQA aims to actively contribute to Saudi Vision 2030 of creating a more diverse and sustainable economy through localization of the Energy Ecosystem in Saudi and the MENA region. TAQA’s strategy and direction are centered on its stakeholders, Customers, Shareholders and People. The company’s ambition is to become a recognized leader in managing integrated projects in the Middle East-North Africa by providing technical services across the life cycle of oilfields as well as offering unique technologies for Geothermal and Carbon Underground storage projects playing a major role in the decarbonization efforts in the MENA region.
With its TAQA-2021 strategy, the company aspire to continue strengthening its technical portfolio by acquiring more technology companies, as well as expanding its operations globally into new geographies and markets. Of the TAQA strategy objectives is to create a strong digitalization and innovation platforms as well as expand its operations into renewable and sustainable energies.
Building the technical capabilities of TAQA started in 2017 with the acquisition of Sanjel Well Services Operations in the Kingdom of Saudi Arabia, followed by the acquisition of Cougar Drilling Solutions (Alberta – Canada), the acquisition of 35% stake in Oliden Technologies in Houston – TX in 2019, 25% stake in OPT Petroleum Technologies Co., LTD (OPT) in 2020, and lately the full acquisition of TARGET Intervention and TENDEKA well completions in Stavanger-Norway and Aberdeen UK. To manage this complex technology portfolio and assure high value added to TAQA’s operations, the position of a Chief Technology Officer was introduced to oversee all these companies and to build a strong technology road map for TAQA to continue offering differentiated technologies and innovations to its global customers.
TAQA strategically venture into sectors and businesses that enhance its portfolio and offer greater value to its customers; with 51% stake ownership in Arabian Drilling Company (ADC) and 51% stake in Arabian Geophysical and Surveying Company (ARGAS), TAQA complements its oilfield services portfolio by offering complete drilling and geophysical solutions.
While oil and gas continue to play a significant role in meeting global energy demand, TAQA’s energy transition strategy call for lower carbon footprint and exploration for new cleaner sources of energy. In 2021 TAQA established the Geothermal Center of Excellence focused on geothermal knowledge transfer and working with key stakeholders in Saudi Arabia to explore geothermal energy in the western region of the kingdom.
TAQA aspires to lead the way in offering differentiated, competitive products and services to Energy Companies in the MENA region, maintaining continuous value creation and bringing highest shareholder’s value.
For all inquiries, please contact cc@taqa.com.sa.