Arab Today, arab today lamprell forms jv to expand in saudi arabia
Last Updated : GMT 10:09:30
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Lamprell forms JV to expand in Saudi Arabia

Arab Today, arab today

Arab Today, arab today Lamprell forms JV to expand in Saudi Arabia

Riyadh - Arabstoday

Lamprell, a leading provider of diversified engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries in the Middle East, has signed a joint venture agreement with Shoaibi Group, a Saudi industry and energy services provider and Al Yusr Townsend and Bottum (AYTB), a Saudi integrated industrial, technical and logistical services provider, to form Lamprell Arabia. The joint venture, which will be based in Al Khobar in the oil rich Eastern province of Saudi Arabia, intends to establish a presence for new build fabrication, refurbishment and repair of land drilling rigs in Saudi Arabia, by combining Lamprell’s  expertise in this sector and Shoaibi Group’s strong experience in the Saudi onshore and offshore market and AYTB’s operational support facilities and multi-disciplinary workforce. Lamprell Arabia will offer new build fabrication, refurbishment and repair of Saudi land rigs, ancillary fabrication for onshore assets and services on Saudi offshore rigs, with the intention of opening a local workshop in the recently built Shoaibi Group Oil and Gas Park, located in the Industrial Village zone in Dammam, Saudi Arabia. The Lamprell Group has been in partnership with the two entities for 11 years through the Maritime Industrial Services Arabia Co. Joint Venture agreement which was established in 2001 to offer fabrication services for pressure vessels, columns and other specialised process equipment. Shoaibi Group Director, Eng. Khalid Suhayl Al Shoaibi, said: “This is a landmark joint venture for the Shoaibi Group and we are all extremely pleased to enter into this joint venture agreement with Lamprell and AYTB. This joint venture builds on the strengths of the three companies to expand Lamprell’s operations in Saudi Arabia and will further reinforce Shoaibi Group’s market positions across our engineering and contracting services to the Saudi upstream industry. Saudi Arabia has an estimated 98 onshore drilling rigs in place and there is a rising demand for advanced drilling equipment and oilfield services in the upstream market, which justifies Lamprell’s expansion into market at this time.” From gulftoday

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