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Saudi Aramco launches International Maritime Industries company

Industry

Saudi Aramco and its partners have launched International Maritime Industries (IMI) joint venture, aiming to link Aramco’s supply chain related to offshore drilling and shipping activities

When fully operational in 2022, the 12mn sq m facility is expected to be one of the largest full-service maritime facilities in terms of production capacity and scale in the region. This also aims to optimise cost, reduce response times and improve agility for Saudi Aramco and its affiliates.

This focuses on enabling Saudi Aramco and its supply chain partners to meet their manufacturing and MRO requirements for offshore oil and gas rigs, offshore support vessels and commercial vessels including very large crude carriers (VLCC). The yard has an annual capacity to manufacture four offshore rigs, more than 40 vessels including three VLCCs and service more than 260 maritime products.

“By meeting Saudi Aramco’s offshore production and transport needs, International Maritime Industries will serve our strategic intent to become the world’s foremost integrated energy and chemicals company,” said Abdallah I Al-Saadan, chairman of the JV’s board of managers and senior vice president of finance, strategy and development of Saudi Aramco.

Initial production and service operations are expected to commence in 2019, with the facility reaching its full operational capacity by 2022. This initiative is considered to contribute towards localising expertise related to the maritime industry and job creation in the kingdom.

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