Oilfields Supply Center to invest US$570mn in SPARK

SPARK OSC RenderingOilfields Supply Center Limited (OSC) has awarded a contract to India's Larson & Toubro to design and built one of the world's largest oil and gas supply bases in King Salman Energy Park (SPARK), Dammam, Kingdom of Saudi Arabia, with a total investment of US$570mn

The creation of the OSC base will measure one million square meters and include multiple areas and zones. The hub is critical to localising the entire energy supply chain, enabling investors to supply the wider region and derive maximum benefit from their presence at SPARK.

Dr Mohammad Yahya Al-Qahtani, chairman of the SPARK board of directors, said, “Strategically located in the centre of the region’s energy market, SPARK is focused on offering investors easy access to demand for energy products and services. OSC’s supply base is a key component of this strategy to create an environment Favourable for international and local companies as well as SMEs to accelerate localisation in Saudi Arabia. OSC offers pre-built industrial solutions that reduce the risk of the establishment phase for investors and gives them the flexibility to rent industrial facilities and workshops on demand In addition to offering a full suite of support services. The base is expected to create thousands of jobs in the energy fields.”

Iqbal Mohammad Abedin, director and general manager of corporate affairs at OSC, said, “Reaching this critical milestone has been at the centre of all our efforts. This strengthens OSC’s commitment to realising our business at SPARK and enabling local content for all companies wishing to do business in Saudi Arabia. We believe this is based on effort and contributes to a dynamic and world-class ecosystem. Previously, we have seen significant interest from international companies as well as small and medium-sized enterprises (SMEs), and after being awarded the contract, we anticipate an increase in demand for our industrial facilities; all phases of work will be completed in the last quarter of 2023.”

“The creation of an oil and gas supply base at the plant in SPARK, the only fully integrated energy centre in the region, is another example of how the project complements the In-Kingdom Total Value Add (iktva) of Aramco, which promotes the development of a diverse, sustainable and globally competitive energy sector in the kingdom,” Abedin added.

SPARK is on track to become the world’s leading energy-focused ecosystem, offering a foundation on which the industry can innovate and grow. OSC’s initial investment of US$570mn is expected to contribute to further value creation as it creates and maintains the oil and gas supply base and offers pre-built solutions for investors and partners of all sizes.

With 80% of its first phase of infrastructure development completed, SPARK is the world’s first industrial city to achieve Leadership in Energy & Environmental Design (LEED) Silver certification. The construction of the oil and gas supply base by OSC conforms to SPARK’s approach in terms of sustainability as well as green design and construction. The project leverages the green portfolio and experience in delivering engineering and design solutions, which aim to minimise the environmental impact of infrastructure development.

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
T: +44 20 7834 7676, F: +44 20 7973 0076, W: www.alaincharles.com

twn Are you sure that you want to switch to desktop version?