Global energy giant Saudi Aramco has signed a joint venture deal with UAE-based engineering firm
Lamprell, the National Shipping Company of Saudi Arabia (Bahri) and
Hyundai Heavy Industries Company for the establishment, development and
operation of a world-class maritime yard.
The yard will be the anchor project within the King Salman
International Complex for Maritime Industries and Services located in
Ras Al-Khair, near the Jubail Industrial City on the Kingdom’s east
coast.
This strategic partnership among industry leading companies is
positioned to capitalise on the rapidly-growing maritime requirements in
the region by offering globally competitive, safe, high quality and
on-time solutions to customers, said Aramco in a statement.
The integrated maritime yard will be the largest in the region in terms
of production capacity and scale, providing an unprecedented mix of
products and services in the region and enabling Saudi Aramco and its
supply chain partners to meet their manufacturing, maintenance, repair
and overhaul requirements for offshore oil and gas rigs, offshore
support vessels, and commercial vessels, including the very large crude
carriers (VLCC), it stated.
The new JV localises essential links of Saudi Aramco’s supply chain
related to offshore drilling and shipping activities, which will lead to
optimized cost, reduced response times and improved agility for Saudi
Aramco and its affiliates.
According to Aramco, the new facility will be able to manufacture four
offshore rigs, more than 40 vessels including three VLCCs, and service
over 260 maritime products annually.
Major production operations are expected to commence in 2019 with the facility reaching its full production capacity by 2022.