TAQA has signed a definitive agreement to acquire the remaining shares of its subsidiary, ARGAS, enhancing its operational capabilities in geophysical services in Saudi Arabia.

Information on the Target

TAQA (Industrialization and Energy Services Company) has announced a strategic agreement to acquire the remaining shares in its subsidiary, the Arabian Geophysical and Surveying Company (ARGAS). Founded in 1966, ARGAS specializes in land, shallow water, and marine seismic and non-seismic data acquisition, alongside providing geoscience and surveying services. The company is headquartered in Dhahran, Saudi Arabia, and operates throughout the Middle East and North Africa.

This acquisition aligns with TAQA's long-term strategy to enhance its operational capabilities and integrate its businesses further. With this development, ARGAS will operate as a wholly-owned subsidiary, enabling TAQA to better leverage its expertise for exploring natural resources in the region.

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