Lamprell forms JV to expand operations in Saudi Arabia through the Shoaibi Group and AYTB

9/6/2012

Lamprell forms JV to expand operations in Saudi Arabia through the Shoaibi Group and AYTB

DUBAI -- Lamprell has signed a joint venture agreement with Shoaibi Group, a Saudi industry and energy services provider, and Al Yusr Townsend and Bottum (“AYTB”), a Saudi integrated industrial, technical and logistical services provider, to form Lamprell Arabia Ltd.

The Joint Venture, which will be based in Al Khobar in the oil rich Eastern province of Saudi Arabia, intends to establish a presence for new build fabrication, refurbishment and repair of land drilling rigs in Saudi Arabia, by combining Lamprell’s  expertise in this sector and Shoaibi Group’s strong experience in the Saudi onshore and offshore market and AYTB’s operational support facilities and multi-disciplinary workforce. Lamprell Arabia Ltd. will offer new build fabrication, refurbishment and repair of Saudi land rigs, ancillary fabrication for onshore assets and services on Saudi offshore rigs, with the intention of opening a local workshop in the recently built Shoaibi Group Oil and Gas Park, located in the Industrial Village zone in Dammam, Saudi Arabia.

The Lamprell Group has been in partnership with the two entities for 11 years through the Maritime Industrial Services Arabia Co. Ltd. (“MIS Arabia”) Joint Venture agreement which was established in 2001 to offer fabrication services for pressure vessels, columns and other specialised process equipment.


 

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