Saudi Arabia to build Energy Park

An Energy Park will be established in Dammam, Saudi Arabia following the signing of a memorandum of understanding between Saudi Aramco and Oilfields Service Contracting Co. (OSCC).

Offshore staff

DHAHRAN -- An Energy Park will be established in Dammam, Saudi Arabia following the signing of a memorandum of understanding between Saudi Aramco and Oilfields Service Contracting Co. (OSCC).

OSCC will plan, build, own and operate the complex, the first project of its type in Saudi Arabia to adopt the Common User Supply Base concept. Under this arrangement, OSCC will provide full-service logistical capabilities, leaving clients to focus on their core business, i.e. oil and gas equipment manufacturing and services.

The complex will be assembled on 1.5 million sq m (16.2 million sq ft) of land at Dammam’s Second Industrial City, for an estimated outlay of $250 million.

The Energy Park is being designed as a self-contained site with different zones, including industrial, residential, and educational services. OSCC aims to attract international, regional and local oil and gas service and power generation companies, with over 120 manufacturing, workshop and material storage facilities expected to occupy the park.

Commercial operations should start by mid-2011.

08/06/2009

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