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SPARK reinforces status as global energy hub with groundbreaking ceremony for major drilling and workover… – Construction Business News

King Salman Energy Park (“SPARK”), the world-class energy and industrial city, marked another significant milestone as Aramco and Horizon Project Company Ltd broke ground on a 277,000 sqm drilling and workover site. Construction is scheduled to be completed by the second quarter of 2023.
The complex will provide infrastructure and amenities for a workforce of 1,200 drilling and workover employees. Aramco and Horizon Project Company Ltd have signed a 22-year Build, Own, Operate and Transfer (BOOT) contract for the project.
Horizon Project Company Ltd. is a special purpose vehicle appointed and jointly owned by a consortium consisting of Al Fouzan Al Sabiq Holding Company and Almutlaq Real Estate Investment Company.
The project will strategically situate new facilities for Aramco’s Drilling and Workover Services Department in a single location, with centralized drilling services and operations.
Senior Vice-President of Upstream at Aramco, Nasir Al-Naimi, said: “This is another significant venture by Aramco that will contribute to business continuity. We expect the new drilling and workover facilities to attract other oil field services companies, who have an indispensable role to play within the collaborative setting of an integrated energy ecosystem.”
Vice-President of Drilling and Workover at Aramco, Abdulhameed Al-Rushaid, said: “The development strategically advances our role as an anchor tenant at SPARK. As an integrated ecosystem for the energy sector, SPARK is being designed to capture the full economic value of demand for energy-related goods and services.  Aramco intends to leverage the scale of our drilling activities to meet that demand and ensure continuity of energy supply, thereby cementing our position as a global energy leader and bolstering the Kingdom’s position as a hub for energy services.”
SPARK is a fully-integrated industrial ecosystem being developed with a vision to become the leading gateway to the regional energy sector and provide a complete variety of solutions to global investors in energy-related industries.
SPARK President and CEO, Saif S. Al Qahtani, said: “We’re excited to announce Aramco’s new drilling and workover head office and industrial hub at SPARK. Its establishment will enhance the oil and gas supply chain by utilizing SPARK’s advanced offerings, such as its logistics hub and dry port, to establish a thriving eco-system. This can also be a driver for other localization opportunities across the energy value chain, for example at SPARK’s digital and non-metallic hubs. SPARK aims to support the industry and attract small and medium enterprises to its state-of-the-art, ready-built facilities and its supply base operated by Oilfields Supply Center (OSC).”
Drilling and workover projects support Aramco’s oil field services and equipment industry strategy. Through its new facility at SPARK, Aramco aims to capitalize on its proximity to oil field service providers to foster a culture of collaboration and innovation. It also aims to support development and localization of key industries such as rig and equipment manufacturing, as well as casting and forging.
Mohammed Al Fantoukh, Horizon Project Company Vice Chairman and AlFouzan Alsabiq Holding Company CEO, said: “We are honored to be a part of this transformative journey with SPARK and Aramco, which is creating a thriving energy ecosystem in Saudi Arabia. Through this partnership, we aim to contribute to building a stronger and more diverse economy, which benefits the Kingdom, its people and the companies who do business here.”
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