Oil and gas equipent – Made in Saudi

Saudi Arabia

Vikas Handa, managing director of GulfTek, talks to The Energy Year about building a diversified portfolio of services to weather market fluctuations and quadrupling manufacturing capacity with a new production facility. GulfTek is a manufacturer of oil and gas equipment, including rigs, downhole and pressure control equipment, valves, instrumentation fittings and flowmeters.

What developments are underway at your new production facility, and how does the expansion fit into your investment strategy and export targets?
We have nearly outgrown our current facility, so we are expanding. Our new site, which will quadruple our capacity, is set to open in 2026. This expansion is the next phase of our investment strategy to double in-country investment to support Vision 2030 and the “Made in Saudi” programme. By manufacturing equipment domestically that was previously imported, we are contributing to the country’s localisation goals.
The new facility will also allow us to scale up production to serve export markets. Initially, we are targeting the Middle East and Africa, followed by North and South America, starting with Brazil. In the region, our focus will be on GCC countries and Iraq, where we are already active in oil and gas.

What is GulfTek’s involvement in the renewable energy sector?
While renewables are crucial, they must be commercially viable. We are observing trends in renewables and are prepared to explore projects when the necessary infrastructure, such as a grid capable of handling surplus solar energy, is in place. Until then, we are aligning with the evolving energy landscape and exploring opportunities where they make sense.

What sustainability initiatives has GulfTek undertaken recently, and how do you plan to achieve carbon neutrality in alignment with Vision 2030?
Sustainability is key for us. Over the past year, we voluntarily achieved ISO 45001 certification, which has laid the foundation for our carbon footprint reduction targets. We partner with clients and suppliers who share these goals. Our target is zero emissions by 2050, following Vision 2030 and national regulations, and each year, we implement new practices across our operations to make progress.
We are also active in carbon credit projects in the Middle East, where we help with carbon quantification, verification, and certification. There is a mangrove project in Saudi Arabia that is gaining momentum to preserve coastal ecosystems and help offset carbon footprints. We have also launched initiatives to make GulfTek a paperless office, digitising interactions with employees, customers and suppliers to streamline operations and minimise waste.

How is your portfolio distributed across the upstream, midstream and downstream?
Around 70% of our portfolio is in the upstream, with the remaining 30% focused on midstream and downstream sectors. Sustainability initiatives are embedded across all segments, guiding how we design, manufacture and improve our products. Our diverse portfolio helps us stay resilient in a cyclical market, and the sustainability component strengthens our position as the market shifts toward greener practices.

How are you positioning the company to capture potential opportunities?
The oil and gas market is cyclical, but we are well-prepared for that. We have a diversified portfolio and can adapt as market conditions shift. Because our products are used across a range of applications, from energy to industrial markets, we are positioned to sustain and grow even as market demand shifts.

Where do you see GulfTek in five years?
We are aiming to become a billion-riyal company. Growth will come from organic and inorganic initiatives. We expect to complete at least one acquisition in Europe in 2025. We have strong capabilities to increase our market share as we expand production capacity and enter new markets. With our new facility, our sustainability initiatives and our localisation efforts, we are well-positioned to contribute to Saudi Arabia’s Vision 2030 goals.

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