Today, Tubacex Group, a global leader in cutting-edge industrial solutions for the energy and mobility sectors, announced that it has closed a $200 million strategic partnership with Abu Dhabi Sovereign Investor Mubadala Investment Company (Mubadala) in its Oil Country Tubular Goods (OCTG) business.
Mubadala’s calculated investment fits nicely with the UAE’s national initiative, “Make it in the Emirates,” which encourages innovators and investors to support the nation’s advanced technology and industry strategy. CRA OCTG (corrosion-resistant alloy tubular solutions) is a crucial transitional fuel in the global energy transition, and Mubadala is positioned to play a vital role in assuring its supply for gas E&P.
This collaboration perfectly complements Tubacex’s agreement with ADNOC and greatly strengthens local manufacturing capabilities. The goal of this innovation centre is to establish new benchmarks for the OCTG industry.
Tubacex has established itself as a global leader in the CRA OCTG category for exploration and production activities by means of long-term partnerships with its strategic clients. The opening of its new CRA OCTG finishing and threading plant in Abu Dhabi, the first of its kind in the area, will further solidify this leadership.
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