Shoaibi Group and Gulf Marine Services form Joint Venture to provide offshore barge operation services in Saudi Arabia
A new joint venture between Saudi Arabia's Shoaibi Group (SG) and the UAE's Gulf Marine Services (GMS) has been created to provide offshore barge operation services. The new company, named "Gulf Maritime Services Saudi Arabia Ltd" (GMSSA), will be based in Al Khobar, Saudi Arabia, and will allow the JV partners to expand their off-shore operations of barge charters and avail from the scale of opportunity and future potential for all offshore areas arising in the region.
Gulf Marine Services is currently the largest Elevating Support Vessel operator in the Middle East, supplying an unrivalled modern fleet of self propelled barges to the oil and gas market. Shoaibi Group have unmatched expertise in the oil and gas market in Saudi Arabia. The new JV will, therefore, capitalise on this expertise, and on the substantial offshore capital expenditure forecast for the region.
GMSSA is set to provide floating or self-elevating offshore platforms, which will be used by oil companies for offshore well maintenance, construction and accommodation. Specifically, it will cover the following services: well intervention and workover operations; well completion and well testing operations; offshore cranage and heavy lifting services; diving operations; topside construction and maintenance activities; and temporary offshore accommodation, including hotel services.
Speaking about the new JV, Duncan Anderson, Chief Executive Officer of GMS said, "Saudi Arabia is an extremely important market to us. Shoaibi Group's experience in the Saudi oil and gas sector perfectly complements GMS's area of expertise. We believe we have the ideal partner to establish ourselves in the largest single market in the Arabian Gulf."
Khalid Al Shoaibi, Shoaibi Group Director, added "We are delighted to partner with GMS, the leading regional operator of best-in-class offshore barges and support vessels. We are confident that our partnership will be of invaluable service to the further development of Saudi Arabia's offshore oil and gas industry."
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Gulf Marine Services
Gulf Marine Services was established in Abu Dhabi in 1977, and is the largest Elevated Support Vessel operator in the Middle East, currently having a fleet of five modern jack-up barges and seven offshore supply and anchor handling vessels. With an offshore base and head office in Mussaffah, Abu Dhabi, GMS serves the oil and gas industry worldwide, and focuses on well maintenance and workover, offshore accommodation, diving and construction, in addition to providing support for salvage and offshore towage.
The ESV fleet complies with the latest MODU regulations, and the supervision of the construction and operation of the whole GMS fleet is undertaken in-house, with an experienced senior management team which has recently been drawn from the global and local markets.
Shoaibi Group
Shoaibi Group has been in operation for over 30 years, and encompasses a wide spectrum of global partnerships, agency representations, and joint ventures in the Middle East & North Africa. It has an established reputation for engineering excellence and reliability in the oil and gas sector, and is involved in the power, IT and telecommunications sectors where it draws on local and international resources to benefit both its partners and customers. Shoaibi Group's expertise in the oil and gas industry has led to the formation of strategic partnerships, as well as investing in innovative technologies that impact the oil and gas landscape in the region.
Jordan Harkins,
Fifth Ring Integrated Corporate Communications
Jordan@fifthring.com,
+44 1224 628288
© Press Release 2009
