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Mustang Al-Hejailan Engineering Finalises Agreement to Combine with Dar E&C and PI-Consult

Wood Group Mustang Al-Hejailan Engineering, a Wood Group company, has finalised agreements to combine with two well-respected Saudi Arabian-owned engineering businesses, Dar E&C ('Dar') and PI-Consult ('PI'), to create Mustang Al-Hejailan Dar PI ('MHDP'). The combined entity of around 500 people will be a leading in-Kingdom engineering & project management services provider, and will quickly execute work under the general engineering services contract (GES+), awarded by Saudi Aramco on 3rd March 2011.

Mustang will be the majority shareholder of MHDP, with Dar as the second largest shareholder in the company. Dar and PI, both longstanding providers of engineering services to Saudi Aramco, held gross assets of US$6.27m and US$8.41m respectively as at December 2010.

Prince Turki A. Abdulrahman, CEO of Dar Group, said, 'Following these transactions, Mustang Al Hejailan Dar PI is uniquely placed to benefit from Saudi Aramco's significant investment plans for both onshore and offshore developments over the coming years, as we continue to grow and develop our in-Kingdom engineering and project management capability.'

Hamad Mohammad Al-Id, CEO of PI said, 'The award of the GES+ contract to MHDP presents tremendous opportunities for the continued development of our people.'

Mike Straughen, Wood Group board director responsible for engineering said, 'We look forward to the exciting opportunities presented by Saudi Aramco's prestigious GES+ contract award. In the longer term, we fully expect to see growth for MHDP through the development of further customer relationships in Saudi Arabia, particularly in the areas of downstream and infrastructure.'

Published 30/03/2011

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Mustang Al-Hejailan Engineering, 51 per cent owned by Mustang, is located in Al Khobar and is a fully registered company in the Kingdom of Saudi Arabia.

Mustang is a global engineering, project management, procurement, and construction operations company serving the upstream oil and gas, refining and chemicals, pipeline, automation and control, and industrial markets. Mustang, a Wood Group company, has offices in the United States, United Kingdom, India, Malaysia, West Africa and the Middle East.

Wood Group is an international energy services company with approximately $5.1bn sales, employing approximately 29,000 people worldwide and operating in 50 countries. The Group has three businesses - Engineering & Production Facilities, Well Support, and Gas Turbine Services - providing a range of engineering, production support, maintenance management and industrial gas turbine overhaul and repair services to the oil & gas, and power generation industries worldwide.

Dar Al Riyadh Engineering & Construction (Dar E&C) is a division of Dar Al Riyadh Consultants and provides Saudi Arabian oil & gas clients with professional and technical engineering services from concept to commissioning. Employing 160 personnel, DAR E&C's extensive experience encompasses engineering and design of grass root facilities and plant modification and expansion.

Petro-Infrastructure Engineering Consultants (PI-Consult) was formed in 1988 by Saudi Engineers and has considerable experience in petroleum infrastructure project development. Employing 170 personnel, PI Consult provides a full range of engineering services.

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