UAE-based Grandweld Shipyards 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 Co. (HSM)
The design will be built as per the standards of Saudi Aramco, and similarly, meet all necessary offshore oil field regulations. The builds of all four FSIVs are expected to be completed in 14 months, with deliveries being made in two-week intervals.
The official signing ceremony 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.
Ibrahem Al Saeed 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. 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.”
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 major area of focus. The initiative is seen as a vital way to stimulate the post-oil economy.
Al Saeed elaborated, “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 set 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.”
