Axis Well Technology was delighted to carry out the Asset Review for the recent acquisition of Middle East based National Petroleum Services (NPS) by a GCC-based consortium of investors, led by sovereign backed investment company Fajr Capital.
NPS, a leading oilfield Service Company, provide well servicing equipment and services plus complimentary engineering and technical support to the major oilfield operators in the region. The main core areas of NPS business are in the provision of the following key product lines: Coiled Tubing, Well Stimulation & Fluid Pumping, Cementing, Logging Services, Surface Well Testing and the Provision of both Drilling & Workover Land Rigs and Water Well Rigs.
With an impressive track record over three decades, NPS operates in key MENA and ASEAN markets, including Saudi Arabia, United Arab Emirates, Qatar, Iraq, Malaysia, Brunei Darussalam and North Africa, employing approximately 1,300 personnel.
Axis’s highly skilled teams of engineers combined practical operations knowledge with detailed technical understanding across the complete asset lifecycle, to carry out the technical due diligence, providing a concise technical overview on the operational service provision capability of National Petroleum Services.
Jim Anderson, Axis Chief Executive Officer said “We are proud to be recognised as market fore-runners in providing trusted due diligence support to oil and gas acquisition projects and are delighted to have been involved in this landmark deal, valued in excess of $500 million, the largest announced private equity transaction in the MENA region in 2014”.