Saudi Aramco has launched a joint venture to manufacture drilling rigs for the first time in Saudi Arabia through the Arab Rig Manufacturing Company (ARM).
According to Arabia Net, the Arab Company for the manufacture of drilling rigs aims to manufacture drilling rigs and equipment, and provide after-sales services in Ras Al-Khair.
This joint venture between Saudi Aramco and NOV represents a strategic milestone in the Kingdom's position as a reputable hub not only for global energy supplies but also for industries and services related to the energy industry in the MENA region.
For his part, the President and Chief Executive Officer of Saudi Aramco, Engineer Amin bin Hassan Al-Nasser, said that in cooperation with the global partner NOV, in the completion of this large and advanced plant, its importance is increasing as it is the first of its kind in the region and near a group of the largest fields in the world.
He added that this project represents an important addition to the efforts to localize equipment of a strategic nature for the oil and gas industry through the IKTVA program, which enhances innovation opportunities and embraces new technologies that support diversification and localization in the Kingdom's economy in line with the objectives of Vision 2030.
Al-Nasser continued: We aspire to make this factory a fortress of manufacturing in the Kingdom and the Middle East, as it is one of the most prominent factories of its kind in the world, and is characterized by integration in manufacturing processes, technical and digital development, and compliance with sustainability and energy efficiency standards. It is NOV's largest investment in drilling rig manufacturing outside the United States.
He explained that the capacity of the facility, which was built in Ras Al-Khair on an area of approximately 500,000 square meters, is expected to reach ten drilling rigs annually, as the local excavator industry contributes to reducing dependence on imported products and creating more job opportunities for young Saudi men and women.
Engineer Amin Al-Nasser said that drilling rigs are one of the most important symbols of the oil and gas industry and one of the main equipment used in global energy supplies, and now the Kingdom has become a site for designing and manufacturing highly efficient and technical onshore drilling rigs, and it is planned that part of the drilling rigs in the Kingdom will be used while the Exporting the other part, this investment will support exports.
It is noteworthy that the Arab Company for the manufacture of drilling rigs delivered the first drilling rig in March 2022 AD to Saudi Aramco Nabors Drilling Company (SANAD).
