Monday 4 July 2022

Officials signing the deal

IMI Industries signs deal with Keppel LeTourneau on Modus

DHAHRAN, May 29, 2022

International Maritime Industries (IMI), the largest shipyard in the Mena region, and Keppel LeTourneau Middle East (KLET), a leading rig designer, will collaborate on the design and construction of Mobile Offshore Drilling Units (Modus). 
As part of Letter of Intent (LOI) signed in this regard, KLET will provide engineering and construction support as well as rig components to IMI through Kit Construction and Licence Agreements (KCLA). The KCLAs will be entered into on a per-rig basis.
IMI, a joint venture between leading industry partners Saudi Aramco, Bahri, Lamprell, and HHI, is the largest shipyard in the Mena (Middle East and North Africa) region at nearly 12 million square metres. It provides new build and maintenance, repair, and overhaul (MRO) services for commercial vessels, including VLCCs, Bulk Carriers, Offshore Support Vessels, and Offshore Jackup rigs. It is the only shipyard with guaranteed offtake agreements worth $10 billion (approximately SR37.5 billion) over 10 years, with partners Aramco and Bahri, for the delivery of 20 rigs and 52 vessels.
Engineering support
The engineering support includes the development of a rig-specific design kit containing engineering drawings and plans, as well as technical guides for IMI to reference when building Modus. KLET will also provide the engineering licence and certain components for each new build rig under the KCLA. 
Both IMI and KLET will also explore the development and application of new technologies, such as digitalisation, energy storage, and decarbonisation, to further optimise the rig designs. 
KLET will also assist IMI in the development and training of its workforce during the Modu detailed design engineering phase, which will be led by IMI’s engineers at IMI’s shipyard in Ras Al Khair, Saudi Arabia.  
Advanced maritime facility
Dr Abdullah Al Ahmari, CEO of IMI, said: “This deal will strengthen our rig building capabilities and support our efforts to build an advanced maritime facility that will drive the development of the maritime industry in Saudi Arabia. The partnership enables us to leverage KLET’s unique capabilities and expertise, thereby enhancing our offering to both our partners and customers. We look forward to working more closely with KLET when we construct Modus at our Ras Al Khair shipyard in the near future.”
Ron MacInnes, President of KLET, said: “We will support IMI by providing rig designs that not only meet the drilling demands of today’s market, but also the future, through design and system optimisation. This leverages Keppel LeTourneau’s expertise in rig design and kit manufacturing, as well as its experience in aftermarket and aftersales services. We have been actively contributing to the offshore and marine industry in Saudi Arabia, with over 20 rigs in the country built to Keppel LeTourneau’s proprietary designs.”-- TradeArabia News Service


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