Dubai-based Oilfields Supply Center Limited (OSC) said it has awarded the construction contract for its new base coming up within King Salman Energy Park (Spark) at a total investment of $570 million.
OSC is a Dubai government entity established in the early 1960s primarily focused on the upstream oil and gas industry for the Middle East and North Africa (Mena) region. In addition, the company also has a strong manufacturing orientation again with its focus on the upstream industry.
OSC also manufactures pressure vessels, heat exchangers and skid-mounted gas compression packages for both oil and gas and process industries.
Lauding the decision, Spark Chairman Dr Mohammad Yahya Al Qahtani said: “Strategically located at the heart of the region’s energy market, we are focused on providing investors with ease of access to meet the demand for energy goods and services. The OSC supply base is a key component of this strategy to create a favourable environment for international and local companies as well as SMEs to accelerate the localisation in Saudi Arabia.”
“OSC is providing pre-built industrial solutions which de-risk the set-up phase for investors and give them flexibility to rent industrial facilities and workshops on demand in addition to providing a full set of supporting services. The base is expected to create thousands of jobs in the energy fields,” noted Al Qahtani.
For the Dubai company, the prime focus is the development and operation of oilfield logistics bases and currently within the emirate, it has a footprint of almost 11 million sq ft situated in the Jebel Ali Free Zone, TechnoPark and Dubai Industrial City.
Meanwhile, India’s top engineering and construction firm Larsen & Toubro (L&T) has indicated that one of its subsidiaries has secured a key contract from OSC to design and build one of the world’s largest energy supply bases at Spark.The significant contract – which is in the range of Rs1,000 crore to Rs2,500 crore ($142 million to $355 million) – was clinched by the Buildings & Factories business of Larsen & Toubro Construction from OSC Saudi, said L&T.
The project involves constructing industrial facilities, administration and ancillary buildings, associated infrastructure and storage yards along with civil, structural, MEP (mechanical, electrical and plumbing) and architectural works. It is scheduled to be completed in 30 months, it added (see also Saudi Arabia, Page 57).