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The Netherlands-registered oil well technology provider Tendeka has announced that it has completed the acquisition of the Middle East-based completion company Flotech for an undisclosed figure.
In a statement released to the press Tendeka said that Flotech’s sand face completion technologies would compliment the company’s existing products.
“The addition of Flotech to Tendeka is a significant strategic step in broadening the high value completion technologies which the group can provide,” Tendeka chairman, Martin Perry said.
“I believe the transaction with Tendeka gives Flotech an ideal platform it can build upon to aggressively expand its geographical footprint and for Flotech to achieve its full potential,” Flotech chairman, Faisal Al Shoaibi said.
