Gulf Drilling acquires ITAG

Gulf Drilling & Petroleum Services (GDPS), a subsidiary of Arabian International Petroleum Corporation (AIPC) of Qatar, has purchased 90% of ITAG’s shares. The remaining shares are with the management. ITAG believes the acquisition will open new markets for the ITAG group. “The Middle East, with huge oil and gas reserves, will be the future market for ITAG,â€? says Dr Jaber A. Al-Marri, the founder and president of AIPC. The ITAG group also plans to turn its headquarters in Celle, Germany, into a “centre of technology.â€?

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