TUV SUD NEL and the Arabian Calibration Company (ACC) have signed a long-term agreement to deliver meter calibration and flow measurement services within the Kingdom of Saudi Arabia (KSA).
The agreement will see TUV SUD NEL supporting ACC in the creation and ongoing delivery of a number of services, including fixed and mobile calibration capabilities, and flow measurement services such as audits, uncertainty studies, meter selection and training. The longer-term goal of both parties is the development of measurement capability within the KSA, using Saudi nationals for the provision of these services.
Recognising the market gap and lack of local expertise, Saudi Aramco Entrepreneurship Ventures (Wa'ed Ventures) has invested in ACC along with local partner, Ibrahim Al Arifi. The principal customer focus for the initiative is the oil and gas industry. However, a local presence providing flow measurement and related engineering services has potential to save millions of dollars for industries involved in water, pharmaceuticals, petrochemical and power generation.
Ibrahim Al Arifi, CEO of ACC, said: “The importance of reliable flow measurement and meter calibration is becoming a hot topic across Saudi Arabia. We look forward to working with the TUV SUD NEL team to develop a broad range of flow measurement services in the Kingdom and in developing the skills of local talent to meet these needs.”
John Batchelor, Head of Industry Service Operations at TÜV SÜD UK, said: “This agreement is testament to TUV SUD NEL's exceptional team of flow measurement experts who are highly skilled in understanding our customers' operational challenges, and then applying engineering solutions which maximise efficiencies and minimise expenditure. Our innovative approach to technical services delivery will help ACC to develop something truly unique that will support a wide range of industries in the Kingdom.”
Khalil Al Shafei of Wa'ed Ventures, said: “A local independent calibration facility was much needed for our localisation initiative and a reliable technical partner like TUV SUD NEL assures us that we can achieve this major milestone as it has an impressive reputation within the oil and gas industry as a world leader in flow measurement.”
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About Arabian Calibration Company (ACC) www.arabiancalibration.com
ACC is an independent liquid and flow meter calibration company. ACC provides Fixed and mobile calibration services in addition to other engineering services. Company is the result of Saudi Aramco Entrepreneurship Ventures' mandate for technology localisation and knowledge transfer.
About TUV SUD NEL www.tuv-sud.co.uk/nel
TUV SUD NEL is a global centre of excellence for flow measurement and fluid flow systems and is the National Measurement Institute responsible for the UK's National Flow Measurement Standards. As an international technology services organisation and provider of pipeline fluid management services to the global petroleum industry, TUV SUD NEL has an impressive track record in the development, design and application of new technologies.
TUV SUD NEL is a trading name of TUV SUD Ltd, a company of the TÜV SÜD Group, an international service organisation with more than 24,000 employees and over 1,000 locations in around 50 countries.
About Wa'ed Ventures http://www.waed.net/
Saudi Aramco Entrepreneurship Ventures LLC (Wa'ed Ventures) is the venture capital arm of Saudi Aramco Entrepreneurship Center (Wa'ed), established by Saudi Aramco with the vision of igniting the spirit of entrepreneurship in the Kingdom of Saudi Arabia. Wa'ed Ventures is a $200 million venture capital fund that invests in Kingdom-based startups and small and medium-sized enterprises to promote economic development in the Kingdom and support the Saudi entrepreneurship and innovation ecosystem. The fund targets high-potential, high risk ventures that are innovative and impactful, offer promising and scalable business models, and are led by committed entrepreneurs and management teams.
Visit source siteSaudi ArabiaUnited KingdomArabian Calibration CompanySaudi AramcoWaed Ventures