French, Saudi companies form JV to offer natural gas treatment services

Shoaibi Group have signed a joint‐venture agreement with natural gas technology and equipment supplier Prosernat of France to form Prosernat Saudi Arabia Ltd. (PNSA).

Under the joint venture, PNSAwill offer a full range of services for natural gas treatment as well as CO2 capture including: process technologies, studies, procurement, construction, commissioning, start‐up, operation and maintenance for field gas separation, oil desalting and gas treatment facilities including gas dehydration, gas sweetening, NGL recovery, sulfur recovery and modular units in Saudi Arabia. Saudi Arabia has proven natural gas reserves estimated at 258 trillion cubic feet, fourth largest in the world behind Russia, Iran, and Qatar.　 Natural gas output needs meet its rising demand in sectors like power generation and water desalination. Natural gas resources are critical for the growth of the petrochemical sector as well.

"We are glad to enter into this joint venture with Prosernat," said Khalid Al Shoaibi, Shoaibi Group director and appointed PNSA chairman. "Natural gas production is on the rise in Saudi Arabia and is expected to increase by 40% in the next four years to 4.5 billion cubic feet per day in 2014. Adding advanced natural gas solutions to our portfolio is essential, and we saw Prosernat as an excellent choice to introduce to the market."