Shoaibi Group has signed JV agreement with Canadian Nitrogen Services Limited to form Continuous Nitrogen Services Arabia Limited. CNS Arabia will provide nitrogen pumping services utilizing state of the art membrane nitrogen generating technology. CNS Arabia nitrogen generation pumping service will offer a cost effective option for well service operations, pipeline process facility testing and commissioning and under balanced drilling operations initially in KSA and Bahrain with plans to expand throughout the MENA region. Under the agreement Shoaibi Group will own 40% stake in the new joint venture company.
Mr Khalid Al Shoaibi director and Shoaibi Group and appointed chairman of CNS Arabia said that "We are extremely pleased to enter into this JV to offer state of the art nitrogen services to the region and to compliment our existing portfolio. The unique advantages of being able to supply a continuous and inexhaustible supply of nitrogen will deliver tremendous value in a host of applications to both onshore and offshore oil, gas and petrochemical industries."
Mr Timothy Pirie CEO of Canadian Nitrogen Services said that "We are looking forward to the opportunity of bringing this service to the region. We along with our partners, the Shoaibi Group are confident our customers will soon see the benefits of using this unique technology which effectively simplifies the logistical supply chain."
CNS Arabia will provide fully integrated mobile nitrogen generators that can make nitrogen available when and where it's needed, continuously without having to schedule and coordinate the delivery of liquid nitrogen. The fully integrated and standalone generators are specifically designed for rapid deployment in remote locations. While other membrane systems or inert gas generators require multiple transports and long setup breakdown times, this system is mounted on a single trailer and already interconnected and calibrated.
The systems are designed to deliver Nitrogen at remote locations where the cost of delivered liquid nitrogen is high when the scheduling and delivery of nitrogen takes a long time or when the requirement calls for continuous service. This allows the end user not to run out of nitrogen or have to terminate a job prematurely while waiting on a nitrogen bulk transport for supplemental LN. CNS Arabia nitrogen generators greatly simplify the troublesome logistics and timing of LN supply while delivering nitrogen at a cost that reflects the elimination of transport costs.
