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Grandweld Shipyards, a leading UAE-based ship repair and conversion facility, has secured a contract to build four 41-m fast support vessel (FSIV) for Saudi-based offshore oil and gas service provider, High Seas Marine Industrial Services (HSM).
The first of its kind design will be built as per the standards of Saudi Aramco, and similarly meet all necessary offshore oil field regulations, said a statement from the company.
The builds of all four FSIVs are expected to be complete in 14 months, with deliveries being made in two week intervals, it said.
The official signing ceremony recently took place at Grandweld’s headquarters in Dubai Maritime City (DMC). The contract was signed by Jamal Abki, general manager of Grandweld Shipyards, and Fawaz Talal Ali Al Tamimi, vice president of Tamimi Group, with the presence of Ibrahem Al Saeed, managing director of High Seas Marine Industrial Services Co, it added.
Engineer Jamal Abki, general manager of Grandweld Shipyards, said: “We are pleased to open collaborations with HSM. Throughout the history of Grandweld, we have prided ourselves in adequate representation of the UAE, as well as going above and beyond our customers’ expectations.”
“This has been essential in driving both operational growth, and maintaining strong business partnerships. With that said, we are confident that this new affiliation will follow the same blueprint,” he said.
“Moreover, in the same manner that the UAE and Saudi have historical ties, we are optimistic that our alliance with HSM, and ultimately Tamimi Group, will evolve to be similar in nature,” he added.
Accompanying the dawn of this decade, expectations for global oil demand is predicted to be 104 MMbbd/d in 2025, and natural gas is continually expanding to integrate itself across major markets. Thus, oil and gas companies are expected to accordingly expand their production in order to meet anticipated demand in the coming years.
Ibrahem Al Saeed, managing director of High Seas Marine Industrial Services Co, said: “Recovering prices and strong demand from the transportation industry are becoming increasingly prevalent within the kingdom.”
“Furthermore, modern developments of oil and gas exploration and production activities is another key factor that seems poised to drive Saudi Arabia’s oil and gas market growth,” he said.
“HSM has built and developed a specific reputation, and ensuring the market remains satisfied with the services delivered to them is of the utmost importance. Grandweld’s provision of four new top-of-the-line FSIVs will assist in maintaining the company’s operational efficiency, as well as this distinctive recognition,” he added.
In January 2019, the UAE and Saudi Arabia unveiled a seven-point co-operation plan to reinforce the countries’ collaborative efforts for a brighter future. Among the various laid out objectives, procurement opportunities for SME’s (small and medium-sized enterprises) was a key area of focus. The initiative is seen as a key way to stimulate the post-oil economy.
Al Saeed continued: “Despite the UAE and Saudi being among the world’s oil leaders, both countries have demonstrated admirable foresight by seeing beyond current success to begin steering their economies into the next sustainable phase of existence.”
“While this cooperative agreement with Grandweld will contribute in realising HSM’s current potential, we also understand that diversification is vital for future growth. As we develop our capabilities, and witness the example that both our countries are setting in regards to diversifying and partnership, we are hopeful that this one-time union may lead to a strategic business relationship that benefits both Grandweld and HSM for many years to come,” he added. – TradeArabia News Service
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