ENG today announced the signing of a marketing and technology agreement with OiLSERV FZCO, a prominent integrated oilfield services company in the Middle East and North Africa (MENA) region and headquartered in Dubai. Under the agreement, OiLSERV has paid ENG an undisclosed amount for the exclusive rights to market ENG’s proprietary small-scale gas to liquids (“GTL”) technology for a period of ten years in the countries of Iraq, Libya, Algeria, and the United Arab Emirates.
OiLSERV has a well-established operational presence in these countries for its provision of subsurface and surface services through its Production & Energy Solutions business line to all of the international and national oil and gas companies in the region. Most of these companies currently have high priority initiatives underway aimed at reducing the amount of gas flared during oil production. The proprietary modular GTL plants supplied by ENG will enhance OiLSERV’s ability to support these initiatives.