News

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Can we extend our congratulations to Bluewater private equity firm and the management team at Aberdeen-based ROVOP – Neil Potter, Graeme Park, Maurice McBride – on the successful sale of the business to US-based Edison Chouest Offshore. It has been a privilege to support ROVOP on their Middle East initiatives since 2017, led by Middle East & Asia Regional Director, Doug Middleton. The business reached £53 million turnover in the financial year ending 31 March 2023 and is now set for further significant growth.

Recent weeks have seen major client initiatives and events involving the Sultanate of Oman and the Kingdom of Saudi Arabia which coincided with HFI's Establishing, Restructuring and Exiting Local Partner Ventures in the MENA Region eGuidebook. Following on from Oman Petroleum & Energy Show 2024 in Muscat, it was a pleasure for HFI to attend Oman Sustainability Week and to catch up with clients and connections. HFI was delighted to introduce our Oman Ventures Initiative (OMVI). OMVI supports ventures which are centred on advanced petroleum technology and hydrogen and other energy transition ventures. The EIC (Energy Industries Council) DataStream service is currently tracking approximately 78 major energy sector projects in Oman across upstream oil & gas, refineries, petrochemicals and renewables, representing US$121 billion of opportunities. This is 18% of the total GCC US$660 billion market size. 

HFI was privileged to meet Stefan van Diessen, Managing Director and Maarten van Geuns, Manager Sales and Marketing of VertiDrive in April as part of VertiDrive’s Technology Showcase Day in Saudi. VertiDrive, established in 2008, is an innovative company that designs safe, environmentally friendly and cost-effective robotic crawler solutions and is the world’s leading solution provider for surface preparation using ultra high-pressure water jetting (UHPWJ) or abrasives.

HFI was pleased to introduce the Q2 update of our Saudi Arabia Ventures Initiative (SAVI) eGuidebook, launched in the week of Middle East Process Engineering Conference and Exhibition (MEPEC) 2024 in Dhahran – the region’s focal point for process engineering technology and know-how. KSA remains one of the most prospective global energy markets in the period to 2030 with US$216bn of energy projects being tracked by the EIC (Energy Industries Council) Datastream.

We hope the features in our eNewsbook will be of interest and please get in touch if we can be of support in your MENA business ventures.