Saudi Aramco inks SAR 160 mln deal with UAE’s NPCC

Saudi Aramco signed on Tuesday a memorandum of understanding (MoU) with UAE’s National Petroleum Construction Company (NPCC) to build a fully integrated fabrication yard and marine base worth SAR 160 million in Ras Al Khair.

The deal was signed at Future Investment Initiative (FII) 2018 conference in Riyadh.

NPCC, which has opened a permanent office in Dammam, is mulling expanding its operations in the Kingdom in order to meet Saudi demand and promote local content, CEO Ahmed Al Dhaheri said.

The fabrication yard will be built over 500,000 square meters, and is expected to provide 2,000 job opportunities, of which 800 jobs will be allocated for Saudis, he said.

Under a six-year strategic long-term agreement (LTA), with NCPP and four other international firms, contracts are to deliver a huge number of offshore oil and gas producing platforms, tie-in platforms, pipelines, power cables, and all the related facilities required under the current Master Plan for Saudi Aramco's offshore fields.