Saudi-based King Salman Energy Park (Spark) has announced the ground breaking of a 277,000-sq-m drilling and workover facility of global energy giant Aramco within its development in the Eastern Province. 

 

The project is being implemented by Aramco in co-ordination with Horizon Project Company on a build, own, operate and transfer (BOOT) model for a 22-year period.

 

Horizon is a special purpose vehicle jointly owned by a Saudi consortium of Al Fouzan Al Sabiq Holding Company and Almutlaq Real Estate Investment Company.

 

Work on the new Aramco drilling and workover head office and industrial hub is scheduled to be completed by the second quarter of 2023, said a statement from Spark, which will be providing the infrastructure and amenities for a workforce of 1,200 drilling and workover employees.

 

The Saudi energy park said the project will centralise facilities for Aramco’s Drilling and Workover Services Department in a single location and further the oil and gas giant's collaboration with oilfield service providers in addition to supporting the development and localisation of key industries such as rig and equipment manufacturing, as well as casting and forging.

 

Senior Vice-President of Upstream at Aramco Nasir Al Naimi said: "This is another significant venture by Aramco that will contribute to business continuity. We expect the new facilities to attract other oil field services companies, who have an indispensable role to play within the collaborative setting of an integrated energy ecosystem."

 

Vice-President of Drilling and Workover Abdulhameed Al Rushaid, said: "The development strategically advances our role as an anchor tenant at Spark. As an integrated ecosystem for the energy sector, the Saudi facility is being designed to capture the full economic value of demand for energy-related goods and services."

 

Spark President and CEO Saif S Al Qahtani said: "We’re excited to announce Aramco’s new drilling and workover head office and industrial hub here. Its establishment will enhance the oil and gas supply chain by utilising the energy park’s advanced offerings, such as its logistics hub and dry port, to establish a thriving eco-system."

 

Spread over a 50-sq-km area in Dammam, Spark is the first entity in the region to pioneer the use of multiple cutting-edge technologies, ensuring that sustainability remains at the heart of the development, he added.-TradeArabia News Service