JEDDAH: Lamprell, a major provider of diversified engineering and contracting services to the onshore and offshore oil and gas and renewable energy industries in the Middle East, has signed a joint venture (JV) agreement with Shoaibi Group, a Saudi industry and energy services provider, and Al-Yusr Townsend and Bottum LLC (AYTB), a Saudi integrated industrial, technical and logistical services provider, to form Lamprell Arabia Ltd.
The JV, which will be based in Alkhobar in the Eastern Province, 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, Shoaibi Group’s strong experience in the Saudi onshore and offshore market and AYTB’s operational support facilities and multi-disciplinary workforce.
Lamprell Arabia Ltd. 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 a& Gas Park, located in the Industrial Village zone in Dammam.
The group has been in partnership with the two entities for 11 years through the Maritime Industrial Services Arabia Co. Ltd. (MIS Arabia) Joint Venture agreement, which was established in 2001 to offer fabrication services for pressure vessels, columns and other specialized process equipment.
Nigel McCue, chief executive officer, Lamprell, said: “Saudi Arabia presents strong opportunities for Lamprell in the onshore rig market. As we continue to strengthen our core competencies, this agreement builds on the Group’s existing business in the country, furthering our long-term relationships with the two companies and leveraging our expertise in land rig services. We are particularly pleased to be signing this agreement with two prominent entities that are well recognized in the Kingdom, Al-Shoaibi Group and AYTB, whose knowledge of the Saudi Arabian market will complement Lamprell’s technical expertise in the oil and gas sector.”