Versalis, the Eni chemical company, and Mazrui Energy Services as well as its subsidiary Petrochem, have signed an agreement to establish Versalis Petrochem Mazrui (VPM). The joint venture will commercialise innovative chemicals for the oil & gas industry in the Middle East.
The new company will source locally manufactured oilfield chemicals to ensure rapid product availability and competitive advantages in terms of logistics, reliability,and customer assistance, within the Middle East.
VPM is already well positioned to offer a wide portfolio of high value-added oilfield chemicals under the brand Versalis E. The new venture will draw on the company’s expertise in industrial expertise in the industrial production and will look to leverage its research and developmental capabilities to ensure top customer services.
The partnership with Mazrui will enable greater proximity to customers and the ability to compete against major players in the market. The partnership will enable Versalis to extend its oilfield chemicals business to the Middle East, (Gulf Cooperation Council countries, Yemen, and Iraq), following its recent access to the US market, which is an important springboard for the Gulf of Mexico area and the Americas. Versalis already operates in Africa through commercial companies in Ghana and Congo, and in Italy with activities throughout the whole country.