Sadara Review 2018

Abdulkarim(left) and Tortelli sign the JV

Abdulkarim(left) and Tortelli sign the JV

Dynamic Energy in JV with PetroValves

PetrolValves Saudi Arabia will be set up in Dammam to manufacture various valve types including ball, gate, globe, check, butterfly and control valves

Dynamic Energy has entered into a landmark joint venture agreement with leading Italian valves manufacturer, PetrolValves, with an aim to localise the manufacturing of such industrial products in the Saudi market. This is the third milestone in a series of joint ventures and investments for Dynamic Energy within the industrial manufacturing sector.

PetrolValves Saudi Arabia will be set up in Dammam to manufacture various valve types including ball, gate, globe, check, butterfly and control valves, catering to local and regional oil and gas companies.

Formed in 1956, PetrolValves is a privately held Italian company with facilities throughout the world. Dynamic Energy had been operating as the exclusive agent for PetrolValves since 2016; this joint venture is a natural progression in their successful 2-year relationship.

The agreement was formalised on the November 27 at the IKTVA forum under the patronage of Prince Saud Bin Naif Al Saud - Governor of the Eastern Province and hosted on behalf of Saudi Aramco by its President and CEO, Amin Al Nasser. This partnership is aligned with IKTVA’s philosophy of creating additional domestic value through localisation of goods and services alongside job creation which will enable citizens to participate and grow in a rapidly developing economic environment.

Speaking at the signing ceremony, the Vice President for Downstream at Dynamic Energy, Basel Al-Abdulkarim said: "This joint venture holds immense promise as it stems from a shared vision and strategy for this sector in Saudi Arabia and seeks to leverage on Dynamic Energy’s strong local presence combined with PetrolValves’ sixty years of experience."

Chief executive officer of PetrolValves, Cristiano Tortelli, further highlighted the importance of this agreement: "PetrolValves strongly believes that bringing its knowledge and expertise to Saudi Arabia will further solidify the long-term partnership with Dynamic Energy. This initiative will involve setting up the most efficient processes based on our experience and will enhance local human capital skills. Our main purpose is to ensure proximity to our customers and fulfil our commitment to them by creating value locally and providing them with innovative solutions that best fit their needs. Our people and values are our most precious assets and we believe that sharing a common approach with our partner Dynamic Energy, will enable this initiative to become a success."

Dynamic Energy has been a successful service and technology supplier to both the upstream and downstream sectors of the oil and gas, petrochemical and power industries within Saudi Arabia and the neighboring Gulf States. Since its inception in 2010, the company’s offerings have grown tremendously through multiple international alliances with renowned technology partners and manufacturers.

PetrolValves S.r.L. manufactures and supplies valves for the oil and gas industry in Italy and internationally. It offers ball top and ball side entry, axial flow, choke, globe, and orifice fitting control valves; and ball-trunnion and floating, compact manifold, gate, globe, check, and axial flow on-off valves. The company also provides subsea, topside, and high-pressure protection system (HIPPS) actuators, including ball, gate, axial flow, and check valve actuators; and removal systems and options/accessories. In addition, it offers spare parts, business development, customer support, field, and valve refurbishment services; and after sales and testing services. Its products are used in upstream applications, including wellhead, topside, subsea, onshore, flowline, pipeline, and geothermal applications; downstream applications, such as topside, onshore, flowline, pipeline, refinery, and chemical/petrochemical applications; and specialty applications, including LNG/cryogenic, alkylation/HF acid, control valve, high temperature, HIPPS integrated system, PTA, power generation, molecular sieve, coker, oil and gas production and transportation, coal gasification, power generation plants, and mining/autoclave applications. In addition, it offers after sales services, site assistance, spare parts, and training. The company was founded in 1956 and is based in Milan, Italy. It has sales, services, and manufacturing facilities worldwide.

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