(MENAFN) Norwegian oil services firm Aker Solutions agreed to buy Dubai-based NPS Energy, part of oilfield services company National Petroleum Services, as it seeks to benefit from the world's top oil producing region, Reuters reported.
Aker Solutions said it will acquire the firm for an equity value of USD350 million plus around USD110 million in net interest bearing debt.
NPS Energy employs around 900 people and offers specialized services, such as coil tubing, wire-line services, cementing, pressure pumping, well logging and testing.
Aker has provided well intervention services in the Middle East, particularly in the UAE, Oman and Saudi Arabia, and is seeking to expand its area of operations in the region.
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