Dynamic Energy and PetrolValves sign joint venture for a manufacturing facility in Dammam, Saudi Arabia

PetrolValves CEO, Cristiano Tortelli (F-R) and Basel Al-Abdulkarim (F-L), VP Downstream Dynamic Energy signing the Joint Venture Agreement on December 5th at the Dynamic Energy Headquarters in Dhahran, Saudi Arabia

Dynamic Energy has entered into a landmark joint venture agreement with leading Italian valves manufacturer, PetrolValves, with an aim to localize 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. 

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

Basel Al-Abdulkarim (L) and Luca Fervali (R) at the agreements signing ceremony on the side lines of the Iktva Forum, Dhahran, Saudi Arabia

Speaking at the signing ceremony, the Vice President for Downstream at Dynamic Energy, Mr. 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, Mr. Cristiano Tortelli, further highlighted the importance of this agreement: “PetrolValves strongly believes that bringing its knowledge and expertise to KSA 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 & 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.

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