As part of TAQA’s strategy to expand its oilfield services portfolio, Target Intervention will strengthen TAQA’s well intervention capabilities. Target Intervention technology provides improved reliability and control during any coiled tubing operation through the electric operation and monitoring of all downhole tool components.
Alpha Corporate Finance has acted as financial advisor to Target Intervention and its shareholders. The main shareholders of Target Intervention are Saudi Aramco Energy Ventures, Chevron Technology Ventures, Sumitomo Corporation and founders.
Target Intervention specializes in the development of real-time coiled tubing tool solutions which enable real-time measurement, interpretation, evaluation, and optimization of well intervention treatments for improved reservoir productivity/injectivity. The company is headquartered in Ålgård, Norway.
TAQA provides specialized equipment and oilfield services for the exploration and development of Oil & Gas resources in the Kingdom of Saudi Arabia and the rest of the Middle East / North Africa region. The company is owned by the Saudi Arabian government and others