Red Sea International Company has signed a contract with Baker Hughes Saudi Arabia to develop modular camps in the Eastern Province to support the latter's oil and gas exploration activities.

The contract is valued at 265.95 million Saudi riyals ($70.87 million), Red Sea said in a statement to the Saudi stock exchange.

The contract is to design, build, supply, and operate multiple fully furnished modular units that will serve as offices, dining areas, laundry rooms, a gym, and a mosque, in addition to camp catering services and associate camp management services.

The contract will run until 30 November 2031, the statement said.

In October, NASDAQ-listed Baker Hughes won an award from Saudi Aramco to expand its integrated underbalanced coiled tubing drilling operations across Saudi Arabia’s natural gas fields.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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