# ABB puts oil and gas turnkey projects arm into joint venture with Arkad

ABB is placing its oil and gas turnkey projects unit into a joint venture majority owned by Saudi Arabia's Arkad Engineering & Construction. The company did not disclose financial details of the transaction, which was announced on November 6, 2017.

- Type: Acquisition
- Announced: 2017-11-06
- Status: announced
- Products: turnkey oil and gas EPC projects

## Companies

- [ABB](https://endata.com/companies/1547.md) (partner)
- [Arkad Engineering & Construction](https://endata.com/companies/2333.md) (partner)

## Sources

- [reuters.com](https://www.reuters.com/article/markets/currencies/abb-teams-up-with-saudi-firm-arkad-for-turnkey-oil-and-gas-projects-idUSKBN1D613B/), 2017-11-06: "Swiss engineering conglomerate ABB is putting its turnkey projects arm for the oil and gas industry into a joint venture majority owned by Saudi Arabia's Arkad Engineering & Construction"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.