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About a decade ago, a Qatari entrepreneur with rich experience in administering the country’s leading oil and gas companies, decided to make investments in a Germany-based oilfield equipment manufacturer, which was also a major European drilling and service firm.
Although ITAG’s technology was time tested, difficult political and economic situation in Germany and Europe shook the company and threw it into bankruptcy. Calls for financial assistance were not honoured by many banks, who did not find the proposals feasible.
Believing in ITAG’s technology, technical know-how, and experience spanning more than a century, Dr Jaber al-Marri decided to invest in ITAG, founded in 1912 by Hermann von Rautenkranz, a German oil industry veteran.
By bringing in the much-needed capital, Dr Jaber al-Marri gave a new sense of direction to ITAG, which remerged as a major company involved in a range of activities for the exploration and production of natural energy sources as oil, gas and renewables.
Currently, ITAG is wholly owned by al-Marri through his company, Doha-based Arabian International Petroleum Corporation (AIPC).
With more than 500 employees on the rolls, ITAG is a global oilfield equipment manufacturer with a large state-of-the-art product range.
A petroleum engineer, al-Marri was previously the managing director of Qatar Petroleum and chairman of both Qatargas and RasGas.
At the helm of QP, he contributed to the strategic masterplan for North Field gas reserve development and managed the first stage of the project besides leading the then negotiating team. Al-Marri also initiated plans for the development of the new Ras Laffan Port and industrial city.
Recently, ITAG celebrated its centenary at a ceremony held at Celle in Lower Saxony, Germany. The high-profile event was attended among others by Lower Saxony vice-president Joerg Bode, ExxonMobil Europe CEO Dr Gernot Kalkoffen, Celle Mayor Dirk-Ulrich Mende and al-Marri.
Under al-Marri’s stewardship, the ITAG Group has developed new markets in the Mena region, a testimony of which is the new multi-use facility in Doha (New Industrial Area) where ITAG now offers a range of services to complement the ITAG Celle operations.
Speaking to Gulf Times about his vision for ITAG to become an integrated oil and gas service company, al-Marri stressed that the “Middle East with its vast hydrocarbon resources is the best place to do that.”
“In Qatar, we have the right ambience for growth. The government’s policy is economic diversification, which we need to adopt. There is a lot one can do here,” he said.
Through three divisions, ITAG is now engaged in drilling, manufacturing and selling equipment for the oil and gas industry and geothermal energy providers.
The ITAG facility at the New Industrial Area in Doha comprises a 4,000 sq m engineering facility and workshop. The company now caters to the requirements of major oil and gas companies in the region and elsewhere.
Al-Marri said: “I have strong belief in ITAG’s technology and professional team. I will continue investing in the business for providing the highest quality and the most reliable products and services exceeding our customer expectation in quality, delivery and cost through continuous improvement.”