The Israeli specialty minerals is one of only a few companies worldwide able to meet the stringent demands of the oil and gas industries for clear brine fluids.
Israeli specialty minerals company ICL (TASE: ICL: NYSE: ICL) (formerly Israel Chemicals) today announced it will be supplying clear brine fluids to the United Arab Emirates (UAE), directly from Israel for the first time. ICL will supply an initial $6 million of materials by the end of this year, and the company intends to significantly increase its clear brine fluid sales to the UAE during 2022.
ICL is one of only a few companies worldwide able to meet the stringent demands of the oil and gas industries for clear brine fluids. The signing of the Abraham Accords normalization agreements has enabled new commercial collaborations, which will benefit both countries.
ICL president of industrial products Anat Tal said, "We welcome the opportunity to supply our product, as part of this historically significant agreement. Sales of clear brine fluids have increased as the year has progressed, and we anticipate this trend will continue into 2022. With the return of drilling activity, we foresee additional commercial opportunities in the Emirates."
Published by Globes, Israel business news - en.globes.co.il - on December 22, 2021.
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