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

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Car, Transportation, Vehicle

Dubai Taxi to pay $43m dividend despite profit drop

Dubai Taxi Company, a subsidiary of the emirate’s transport regulator, has approved a dividend payout of AED159 million ($43 million) for the first half of 2024 despite a marginal 1 percent increase in net profit. Net earnings reached AED187.4 million in the first six months of the year, compared to AED186.3 million at the same […]