The US’ Mustang Engineering has bought a majority stake in Saudi Arabia’s Al-Hejailan Consultants in a bid to target engineering and project management deals in the kingdom’s energy industry.
Mustang is a subsidiary of UK energy services company Wood Group and the joint venture is called Mustang al-Hejailan Engineering.
Al-Hejailan is investing its gross assets of $11m for an unspecified interest in the venture.
Al-Hejailan, based in the Eastern Province city of Al-Khobar, employs 150 staff and is a general engineering services contractor to the state-run Saudi Aramco.
The joint venture expects to target future engineering work for The Royal Commission for Jubail and Yanbu, and petrochemicals giant Saudi Basic Industries Company (Sabic).
In November 2008 Mustang won a front-end engineering and design (Feed) contract for a carbon capture and storage programme being developed by Abu Dhabi Future Energy Company (Masdar) (MEED 18:11:08).