Benzinga | Dec 22, 2021 07:09AM EST

ICL to Supply Clear Brine Fluids for Oil and Gas Drilling to the Emirates; Initial Order is $6M

ICL (NYSE:ICL) (TASE: ICL), a leading global specialty minerals company, today announced it will be supplying clear brine fluids to the United Arab Emirates, directly from Israel for the first time. ICL is expected to 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 Emirates during 2022.

ICL, which is the global leader in bromine compounds, is one of only a few companies in the world able to meet the stringent demands of the oil and gas industries for clear brine fluids. The signing of the normalization agreements has enabled new commercial collaborations, which will benefit both countries.

"We welcome the opportunity to supply our product, as part of this historically significant agreement," said Anat Tal, president of Industrial Products for ICL. "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."