Aramco signed an agreement establishing the global pool of marine industries b SR 19.5 billion

Aramco signed an agreement establishing the global pool of marine industries b SR 19.5 billion
Saudi Aramco signed a contributor agreement < with lambril Corporation plc (lambril), and the Saudi national company for maritime transport (sea), and Hyundai heavy industries Ltd (Hyundai heavy industries), the joint venture partnership aims to establish and develop and run a global marine industries complex as a key project in the King Salman marine industries and services world in good head, near Jubail Industrial City on the East coast of Saudi Arabia at a cost of up to 19.5 billion riyals (5.2 billion dollars).
The aim of this strategic partnership with these leading companies to take advantage of the growing demand for services and maritime industries in the region through competitive solutions secure, high quality, and global standards. This project comes to localize the basic elements in Saudi Aramco supply system associated with shipping and offshore drilling to help reduce costs, responsiveness and efficiency of the company and its affiliates.
The complex will be the largest of its kind in the region in terms of production capacity and turnover. And will be held at RAS goodness near Jubail Industrial City 4.3 square kilometers, the project will present a package of products and services in the region and which will meet the demand of Saudi Aramco and its partners in the supply system of manufacturing, maintenance, repair and overhaul full of offshore oil and gas drilling platforms and marine support vessels and commercial ships, including oil tankers. The complex will have annual production capacity to manufacture four naval drill platforms and more than 40 ships include three large oil tankers, in addition to providing maintenance services for more than 260 products, ships and drilling rigs.
Production is expected to start work on the project through 2019, to project his full production by 2022. This project will work on localization of experiences associated with marine industries and create more jobs in the Kingdom.
She said in a statement:» lambril ««managers expect to be the largest naval complex in the Gulf in terms of production capacity and volume». She added that the Saudi Government would cover about 3.5 billion ($ 13 billion) of total cost to finance the remainder of the project costs. Invest «lambril» up to 140 million dollars (500 million) and owns 20 percent of the project.
Possess «50.1 percent “Aramco is investing up to $351 million (1.3 billion). And she was «» Aramco signed a memorandum of understanding on the project in January January 2016. The giant oil company said earlier that the cost will increase to 20 billion riyals (5.3 billion dollars).
Marine will invest up to 139 million ($ 521 million) in Exchange for a quota of 19.9 percent and «Hyundai» up to 70 million dollars (262 million) in Exchange for a 10 percent share. Saudi Industrial Development Fund agreed on providing $1 billion debt facility (3.75 billion). Under the agreement, will buy «Aramco» 20 rig and a naval support vessels and services joint venture by what she said was the lambril», which «jumped 13 percent after the announcement.
According to the «lambril», a Navy will buy at least 75 percent of its needs from commercial vessels over 10 years of project with a minimum of 52 commercial ships including a large number of giant oil tankers. McDermott international company specialized in providing us oilfield services and equipment she will establish manufacturing projects in complex good header and move some of its operations from Dubai to good head by the middle of the third decade of this century.
And adopt a strategy which invests Kingdom large sums of government money and procurement budgets of major State-owned companies, such as national oil company Saudi Aramco to attract foreign expertise to develop strategic industries.
She said she signed the agreement «» Aramco shareholders with Saudi shipping company (sea), a State-controlled company shipped oil to interest «Aramco», South Korean Hyundai heavy industries and «lambril», is an engineering company based in the UAE and is listed on the London Stock Exchange.Saudi and Russian Energy Minister discuss cooperation in production and refiningEnergy and Industry Minister < and mineral, Chairman of Saudi Aramco, Khalid Al-Falih with Igor sichn ceo «Ross oil» in Moscow the day before yesterday, the areas of cooperation between the two companies in oil and gas projects. The statement said «sitshn» oil Ross discussed with Al-Faleh, cooperation in exploration and production, refining, petrochemical and liquefied natural gas. Sitshn is the second meeting in less than a week with officials of Saudi Aramco, as «met the ceo of «Ross oil» last Sunday in the Saudi Aramco Chief Executive Nasser Amin. «» And did not address «Aramco» published last Sunday because details of the meeting, but said that sichn «look at the work and strategies of the company».
Faleh also discussed with his Russian Energy Minister Alexander Novak in Moscow fields of cooperation between the two countries, especially technology. The meeting was attended by Director of company «Gazprom oil», of «Gazprom oil arm» Alexander dokov, stressing the Russian oil companies attention Novak’s participation in energy projects in the Kingdom.
Among the projects of common interest, the Novak to create joint research centres for the development and introduction of advanced technologies in the field of oil and gas, including a project for manufacturing equipment to be used, in addition to sell in other markets. The Ministers also discussed Russia and Saudi Arabia, which are leading producers of oil in the world, the situation in the world oil market, especially after the extension of the cut to nine months until March March 2018.
Producing countries from inside and outside OPEC such as «» Russia agreed to end November last November to reduce production by 1.8 million barrels to absorb a surfeit of supply and price degradation.
In this context, the Minister told Novak that cooperation between producers inside and outside OPEC wide prospects «» for cooperation and joint projects for the production and transportation of energy resources.
After Moscow, it is expected that the Saudi Minister Saint Petersburg tends to participate in the Forum «Petersburg economic 2017» 1-3 held from June (June). International Economic Forum «Petersburg» held in Russia since 1997, and since 2006, President Putin attended the Forum annually. The Economic Forum is called b «Russian Forum», thanks to its size and level of participants.
 Source: Alhayat

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