Sunday 16 June 2024
 
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AlSuwaiket Oil & Gas breaks ground on key Saudi facility

RIYADH, 24 days ago

Saudi-based Mubarak A. AlSuwaiket and Sons Oil & Gas Services Company (AlSuwaiket O&G) has announced the groundbreaking of its new industrial facility at the King Salman Energy Park (Spark), a leading energy industrial ecosystem at the heart of the energy market.
 
The plant, to be developed on a 41,081 sq m area within the energy park, will be operational in Q2 2025.
 
AlSuwaiket O&G said the new facility is set to become a cornerstone in the regional oil field products and services industry, offering an array of products and services in the field of engineering for the oil and gas sector and the alternative energy sector. 
 
It will also facilitate the drilling techniques and the treatment and disposal of polluted drilling output, as well as the production of anti-rust materials, onshore and offshore pipeline maintenance techniques, artificial intelligence, and several security technologies. 
 
The investment aligns with Saudi Arabia’s Vision 2030, intending to boost localization and support the development of domestic capabilities across a range of sectors, including manufacturing, technology, and services, it stated.
 
The groundbreaking ceremony was also attended by executives from Spark and AlSuwaiket O&G, signaling the collaborative efforts to advance the Kingdom’s oil and gas industry in the region.
 
Speaking on the occasion, Nabil Chaachou, VP of Business Development of Spark said: "We are pleased to celebrate AlSuwaiket Oil & Gas' groundbreaking ceremony and welcome them as a tenant at Spark. The partnership reinforces our commitment to championing the localisation of the energy value chain in the kingdom and reinforcing our position as a regional energy hub."
 
This state-of-the-art industrial facility is positioned to be a key player in regional oil field products and services, he added.
 
Mubarak AlSuwaiket, the Chairman of AlSuwaiket O&G, said: "We are delighted and looking forward to our partnership with Spark. We believe it is an effective opportunity to direct our investments to support the oil, gas, energy, and environmental sectors to achieve the goals of the 2030 vision."
 
"As we recognize the high potential of Spark, we are investing with international companies to provide them with a professional and business friendly environment to export their experience to the kingdom," he added.-TradeArabia News Service
 



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