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Eye of Riyadh
Jubail Energy Services Company (JESCO)

Jubail Energy Services Company (JESCO)

Listed in :
Business & Money > Water & Power

In 2006, Industrialization and Energy Services Company (TAQA) decided to complement its developed business related to oil and gas industry with its new subsidiary called Jubail Energy Services Company (JESCO), for the manufacture of seamless pipes in Jubail 1 Industrial Area. The integration of seamless pipes manufacturing with its already equipped services to the oil and gas industry will provide better synergies and opportunities for Taqa as a group. From the exploration, drilling and marine facilities for the oil and gas sector to seamless pipes manufacturing, Taqa is an important contributor to the oil and gas industry upstream development. The company is owned 51% by TAQA, 10% by Duferco Saudi Ltd, and the balance of shares is made up by other, prominent Saudi investors. Saudi Industrial Development Fund (SIDF), Public Investment Fund (PIF) and HSBC/SABB contributed to project financing. In 2011 JESCO - when at full production capacity - will produce 400,000 metrictons per year of seamless steel pipes, and will reach a number of 700 employees.

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