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Saudi Arabia's Shoaibi Group and FMC Technologies Form Oil and Gas Services Joint Venture
BANGALORE, INDIA--June 19, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--Saudi Arabia's Shoaibi Group (Al-Khobar, Saudi Arabia) and FMC Petroleum Equipment (Malaysia) Sdn Bhd, a wholly owned subsidiary of FMC Technologies Incorporated (NYSE:FTI) (Houston, Texas), have announced the formation of a joint venture, FMC Technologies Saudi Arabia Limited (Al-Khobar, Saudi Arabia). The joint venture will provide equipment, solutions and services in oil and gas exploration, production and development. It will also manufacture surface wellhead components, which will not only meet FMC's quality guidelines but also the global American Petroleum Institute standards.
Other companies featured: BP Plc (NYSE:BP)
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Industry Segment: Production
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