Skip to content Skip to Search
Skip navigation

Aramco to build two offshore fabrication yards in Ras Al Khair

By Pramod Kumar
Aramco Reuters/Hamad I Mohammed
The new appointments will help drive Aramco’s long-term strategy across its global portfolio and value chain

Saudi Arabian Oil Company will establish two offshore fabrication yards with international partners – National Petroleum Construction Company (NPCC) and McDermott International – to boost Saudi Arabia’s offshore fabrication capacity.

The new yards, constructed in Ras Al Khair, are expected to fabricate and assemble offshore platforms, jackets and structures for subsea pipelines, the company said in a statement.

The yards are expected to be operational in the third quarter of 2023, with the initial combined production capacity estimated at 70,000 metric tons (MT) per year.

Therefore, the kingdom’s total offshore fabrication capacity will rise from 30,000 MT to 100,000 MT annually. 

The yards will likely create up to 7,000 direct and indirect jobs, with a target Saudisation rate of 70 percent after being fully operational.

Abdulkarim Al Ghamdi, Aramco vice president of project management, said that the yards would bring new technologies and digital solutions to in-kingdom fabrication, accelerating project delivery schedules and reinforcing the local supply chain.

Latest articles

Head, Person, Face

India’s Adani set to raise $1bn from Middle East wealth fund

Adani Group, led by Indian billionaire Gautam Adani, is in advanced discussions with an unnamed sovereign wealth fund from the Middle East to raise up to $1 billion for its airports business, a news report said. The first tranche of the fundraising will be finalised by the end of the fourth quarter of 2024, Economic […]

Saudi Arabia launches e-karting racing tracks in 6 cities

Six cities in Saudi Arabia are set to get Hot Wheels e-karting racing tracks. The indoor e-karts will be a venture between Saudi Entertainment Ventures (Seven), part of Qiddiya Investment Company (QIC), and US toy maker Mattel. The Hot Wheels e-karting will be available in entertainment complexes such as Riyadh, Makkah, Taif, Al Madinah, Tabuk, and Jazan. In January, Seven […]

Sainsbury's has the second-largest share of the UK grocery market, at 15 percent, behind Tesco at 28 percent

Qatar to reduce stake in UK supermarket Sainsbury’s

Qatar’s sovereign wealth fund is selling part of its 15 percent stake in the British supermarket Sainsbury’s as the fund pushes ahead with expansion in the United States and Asia, particularly China and India. Qatar Investment Authority (QIA), the biggest shareholder in Sainsbury’s, is selling £306 million ($399 million) worth of shares in the retailer, […]

Shoppers in Kuwait's Avenues Mall – the IMF says the country needs to encourage private sector employment

Kuwait needs to push reforms for economic growth, says IMF

Kuwait must accelerate the introduction of fiscal and structural reforms that are needed to increase private sector-led growth and diversify its economy away from hydrocarbons, the International Monetary Fund said on Friday. Kuwait’s economy will contract by 3.2 percent this year because of an Opec+ oil production cut, but will grow by 2.8 percent in 2025 […]