International Maritime Industries Signs Two New Build Rig Orders With ARO Drilling

Energy Press Releases Monday January 20, 2020 13:56
DHAHRAN, Saudi Arabia--20 Jan--PRNewswire/InfoQuest
  • Contract signing intends to enable IMI to build its first two new build jack-up drilling rigs for ARO Drilling (ARO) in the UAE, providing IMI with world-class industry knowledge and experience

International Maritime Industries (IMI) announced today they had signed two "Rig Purchase Agreement's" (RPA's) with ARO; a world-class offshore drilling contractor that owns, operates, and manages a fleet of high-specification and premium jack-up rigs in Saudi Arabia, and a subsequent sub-contract agreement with long-term partners Lamprell Energy Ltd (LEL) to build two (2) Keppel LeTourneau Super 116E jack-up drilling rigs. The delivery of the first rig is expected in Q1 2022 and the second rig in Q2 2022.

Photo: https://mma.prnewswire.com/media/1078927/ARO_IMI.jpg
Photo: https://mma.prnewswire.com/media/1078928/IMI_Lamprell.jpg

"This award provides many benefits for IMI, including transfer of technical knowledge and IP from LEL to IMI and a mechanism to address the development plans required for IMI employees, so they acquire world class skills in rig building and planning that will ensure IMI is well equipped to build rigs independently in Ras Al Khair, once IMI's world class shipyard opens. LEL will assist IMI to localize supply chain in Kingdom. These project award's will therefore contribute to the long-term growth of this new industry in Saudi Arabia and will enable IMI to independently build jack-up drilling rigs in Saudi Arabia to the highest international rig building standards," said Fathi K. Al-Saleem, IMI Chief Executive Officer.

Commenting on the project award, Kelly McHenry, CEO of ARO, said: "ARO is committed to increasing our presence in the region and we are pleased to reach agreements that will enable us to use local manufacturing capabilities to support our fleet growth objectives. Through these purchase agreements, ARO will acquire two state-of-the-art jack-ups and we look forward to partnering with IMI on the delivery of these rigs."

"This project award further strengthens the business relationship between IMI and its shareholders, as well as contributing to the development of a localized Industry supply chain infrastructure, technical expertise for Saudi Nationals, and a track record in jack-up rig building," said Al-Saleem.

International Maritime Industries, located in The King Salman Complex for International Maritime Industries & Services at Ras Al-Khair, Saudi Arabia, will be the largest, full service maritime facility in MENA. When building is complete, the annual capacity of the facility will be four (4) new build offshore rigs and over 43 new build vessels including VLCCs, in addition to servicing more than 260 maritime products. Major production operations are expected to commence toward the end of 2020 with the facility reaching its full production capacity by 2022. International Maritime Industries is a joint venture between Saudi Aramco, Lamprell, Bahri and Hyundai Heavy Industries.

Photo: https://mma.prnewswire.com/media/1078927/ARO_IMI.jpg
Photo: https://mma.prnewswire.com/media/1078928/IMI_Lamprell.jpg

Latest Press Release

The Groundbreaking Ceremony of Tongwei Solar 30GW High-performance Solar Cell and Supporting Project Was Held

On March 25, the groundbreaking ceremony of Tongwei Solar Photovoltaic Industrial Base Project was held in Huaizhou New Town, Jintang County, Chengdu, China. With total investment of about CNY 20 billion, Tongwei Solar Photovoltaic Industrial Base...

China Huadian Supports Indonesia with Anti-Pandemic Supplies in Need

On March 24, a batch of medical protective materials worth around 1.25 million yuan has departed from Shanghai Pudong International Airport for Soekarno-Hatta International Airport in Jakarta, Indonesia. This is the first round of overseas anti-pandemic...

International Maritime Industries Completes the "Maintenance, Repair & Overhaul (MRO)" of the ARO-2003 (SAR201) With ARO Drilling

Contract enabled IMI to build capabilities in-Kingdom and further strengthen its strategic partnership with ARO Drilling. International Maritime Industries (IMI) announced today the completion of the ARO-2003 (SAR201) MRO project with ARO Drilling...

RAYONG MARRIOTT RESORT & SPA SUPPORTS WORLDWIDE EARTH HOUR MOVEMENT FOR THE ENVIRONMENT BY GOING DARK FOR ONE HOUR

Rayong Marriott Rsort & Spa will go dark for one hour on March 28th to shine a light on climate action in support of Earth Hour 2020. The hotel will join millions around the world in turning off its lights at 8:30 p.m. local time to illuminate a...

Shanghai Electric Donates 40,000 Masks to Wassit Thermal Power Plant in Iraq

Shanghai Electric Group, the world's leading manufacturer and supplier of power generation and industrial equipment, announced today that it has donated 40,000 pieces of surgical masks to employees of Shanghai Electric's Wassit Thermal Power Plant, the...

Related Topics