The storage and blending facility, which is scheduled to become operational in the second half of 2014, will enable CECA to establish a long-term presence in the Gulf region and in particular in Saudi Arabia, which has one of the world’s largest conventional oil reserves.
Oilfield production chemicals are a strategic activity for CECA, which supplies oil companies in Africa and the Middle East, but has not had a commercial or industrial presence in Saudi Arabia to date.
“The oilfield production chemical market is growing at a steady rate of 5% per year, and the Middle East is one of the most dynamic regions. 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 located in a strategic region, we aim to become a major player in the region,” said CECA managing director Marc-Antoine Mallet.