Scottish-UAE oil & gas consultancy brokers Al Yaseah | Norco deal

13 December 2017 2 min. read

Al Yaseah, an oil and gas industry supply and service provider based in Abu Dhabi, has signed a joint venture with stored electrical energy system specialists Norco Group of Aberdeen, in a transaction brokered by Oil & Gas Innovation UAE.

Operating out of offices in Aberdeen, UK, and the UAE, the technology development and transfer consulting firm, Oil and Gas Innovation (O&G), was set up as an initiative to forge greater partnerships between Scottish companies and their Middle Eastern counterparts working in the oil and gas sector in the UAE.

According to a survey conducted by Scottish Development International, the Middle East is Scotland’s second-largest export market in the oil and gas field, valued at up to £2 billion, while the UAE is the primary trade partner for Scottish oil and gas companies operating in the MENA region.Oil & Gas Innovation UAE brokers Al Yaseah | Norco Group partnership

In Scotland, O&G is seeking to capitalise on the country’s industry-wide reputation for innovation, borne from its years of technological advancement and experience in the North Sea, by helping to identify clients in the UAE for Scottish oil and gas technology companies as well as establish joint ventures and partnerships between companies based in the respective nations. 

In addition to its brokerage service, the firm, with its local knowledge and established network of contacts across the Middle East and North Africa, further offers its international clients assistance in establishing a presence in the region, along with consulting services in operational efficiencies and cost cutting in the oil and gas sector. 

Al Yaseah and Norco Group have been in discussions for “some months” prior to completing the deal, said Al Yaseah managing director, Khalid Mohamed Helal Feraih Al Qubaisi, which included joint meetings held at the premises of Abu Dhabi National Oil Company (ADNOC). The managing director of Al Yaseah added that he believes there is a large demand for Norco Group’s services, further stating, “We will work together to become the leading provider of battery-backed systems and associated services in the UAE.” 

O&G’s founder and CEO, Brian Gribble, a three-time recipient of the Queen’s Award for International Trade, said of their latest completed partnership deal, “I am very pleased that this joint venture has come together, as it will be win-win for both Norco Group and Al Yaseah. The synergies between the two groups and the demand for Norco's expertise will boost for the availability of these services in the Middle East.”