Qatar maritime and logistics firm Milaha has signed a formal cooperation agreement with US oilfield services firm Schlumberger.
The agreement is designed to support value building projects and will drive the so-called Tawteen initiatives, which aim to localise the energy sector’s supply chain and create local investment opportunities. The Tawteen program is led by Qatar Petroleum.
The agreement between Milaha and Schlumberger is for a period of five years, and will include a Qatar-owned, flagged and operated oil well stimulation vessel. Pre-engineering has already begun.
“The resulting Qatar-owned value chain will be a joint service that enhances the expertise of a global multinational service firm like Schlumberger as well as the leading Qatar-based multi-disciplined local service company like Milaha,” the Qatari company said.