Saudi Maritime Yard moves a step closer

Offshore staff

SHARJAH, UAE – Maritime Offshore, a subsidiary of fabrication group Lamprell has signed a joint development agreement (JDA) with Saudi Aramco, Hyundai Heavy Industries, and the National Shipping Company of Saudi Arabia (Bahri).

This concerns a potential collaboration in establishing a Maritime Yard at Ras Al Khair in eastern Saudi Arabia.

The JDA represents the next phase of development following their memorandum of understanding (MoU) in January. They have since performed due diligence and feasibility studies.

With the JDA in place, the partners intend to assess the operational, financial, personnel, and legal aspects of the project with a view to taking a final investment decision.

The proposed Maritime Yard will provide engineering, manufacturing, and repair services for offshore rigs, commercial vessels and offshore service vessels, with the partners combining their collective expertise to help to promote economic development in line with the Kingdom’s recently announced Vision 2030.

Lamprell expects the Maritime Yard to compete for projects internationally.

06/01/2016

Share your news with Offshore at news@offshore-mag.com

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...