Saudi Arabian Oil Company (Aramco), in collaboration with National Petroleum Construction Company (NPCC) and McDermott International, will establish two offshore fabrication yards in Ras Al Khair, the Saudi stock exchange-listed company said in a press statement.

The new yards will fabricate and assemble offshore platforms, jackets and structures for subsea pipelines. The investment details details were not shared.

The start-up of the facilities is planned for the third quarter of 2023, with the initial combined production capacity estimated at around 70,000 metric tonnes (MT) per year, the statement said.

This will increase the Kingdom’s total offshore fabrication capacity from 30,000 MT to 100,000 MT annually. 

When fully operational, the yards are likely to create up to 7,000 direct and indirect jobs, targeting a Saudization rate of 70 percent.

The offshore fabrication yards will benefit from advanced infrastructure at Ras Al Khair, including Ras Al Khair Port and King Salman International Complex for Maritime Industries and Services, the statement said.

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)