Al Masaood Group seals three separate deals with global companies
Agreements to boost Al Masaood’s contributions to Abu Dhabi & UAE economies
Abu Dhabi, November 30, 2021 - Al Masaood Group has closed three separate major deals with leading global companies at the recently concluded Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), making the event’s 2021 edition its biggest and most successful participation yet. The group featured its four business units and 13 global brand partners during the exhibition organised for the oil, gas and energy sectors.
During this year’s ADIPEC, Al Masaood signed new agreements with SPH Co. Ltd, a Tanzania-based modular construction solutions provider; 4IR Solutions, which is the only real-time crude oil analyser focuses on process monitoring, analytics, control, and safety applications; and Italy-based BTS, provider of engineering, procurement, and construction (EPC) services specifically for biogas development projects.
Hani El Tannir, Group Head of Commercial, Al Masaood, said: “Our latest partnerships established during ADIPEC will bring us closer to our goal of expanding our footprint to key global markets and new areas of interest. Al Masaood’s separate collaborative efforts with SPH, 4IR and BTS will also enable all involved parties to optimise fresh growth opportunities, as well as consistently deliver high-quality solutions and technologies to our respective customers.”
“The latest development reflects our relentless efforts to cooperate with leading businesses to diversify our offerings for the benefit of our clients and help pave ways of fresh investments to the UAE. This is according to our commitment to grow with the nation and significantly contribute to the economies of Abu Dhabi and the UAE,” added El Tannir.
Under the terms of the group’s Memorandum of Understanding (MoU) with SPH, its business unit, Al Masaood Bergum, will supply prefabricated facilities to the Tanzanian registered firm. The prefab solutions will be sent as flat-pack units to SPH’s headquarters. Al Masaood Bergum will also collaborate with SPH to explore the possibility of opening makeshift factories in the East African country once its business has been fully established in the local market.
Al Masaood’s cooperation with 4IR solutions, meantime, will pave the way for the latter to distribute its AI-60 process analyser in the UAE market within three agreed durations. 4IR’s AI-60 is the only analyser capable of measuring dense and opaque liquids as well as gases which increases profit margins within three (3) to six (6) months. Applications for disruptive on-line Realtime analysers are in oil and gas industries (refineries, offshore drilling, oil pipeline custody and oil tanker custody transfer), petrochemical, academia, and pharmaceutical industry. Al Masaood’s MoU with BTS saw both parties agreeing to be technology partners. They will launch a pilot project to introduce BTS’ technology to the UAE market. As BTS’ local partner, Al Masaood will provide the necessary production and associated civil works.
All three agreements were signed at a time when Al Masaood is commemorating its 50th founding anniversary, which coincides with the UAE’s Golden Jubilee.
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