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Velosi wins key Aramco contract

Riyadh, September 8, 2008

Velosi Limited, a leading provider of asset integrity and HSE services to oil and gas companies, has won a major five-year general inspection services contract with Saudi Aramco.

The contract, the value of which was not provided, is effective from July 2008 until the second quarter of 2013, a statement said.

Velosi’s Saudi Arabian unit was set up in late 2007 and the breakthrough contract is a first for the company in the region. In addition, the contract represents a significant increase in the scope of work with Aramco, one of the world’s leading producers and exporters of crude oil, and producers of natural gas.

Under the new contract, Velosi will provide inspection services (Quality Management Systems Services) for Saudi Aramco capital projects during the design, procurement and construction of industrial and non industrial facilities both onshore and offshore. The work will include field inspection and testing, reviewing of quality submittals, and design packages, providing inspection at supply vendors, conducting QMS audits and providing quality reports. There is also an option for the contract to be extended for a further three years.

Commenting on the contract win, Dr Nabil Abdul Jalil, CEO of Velosi, said: "The Middle East has for some time been a highly successful region for Velosi and the contract is significant, both in terms of revenue generation and in helping to further consolidate our position in the region. Globally, demand for Velosi’s asset integrity management and HSE services remains strong, reflecting the major oil and gas companies’ continued emphasis on ensuring assets are safeguarded to the highest standards. We look forward to making further announcements on the group’s progress." - TradeArabia News Service




Tags: aramco | Velosi | HSE |

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