Saudi Aramco continues its major expansionary phase and channeling investments in its Upstream segment that include exploration, developing and producing crude oil, condensate, natural gas and NGL. Saudi Aramco, one of the world's largest integrated energy and chemicals companies, operates along two major segments: Upstream and Downstream. Demand for onshore drilling rigs is directly influenced by the demand growth for fossil fuels and onshore exploration and production activities. U.S. suppliers might also look for specific opportunities through Saudi Aramcos localization program, known as In-Kingdom Total Value Add (IKTVA). It is the 4th largest oil drilling company in the country. They drill oil from both onshore and offshore oil fields. A robust HSE policy is at the heart of our business strategy. The company also secured major contracts in Iraq. Local Market IPO/Equity Capital Markets Deal of the Year, First Place in Responsible Competitiveness, Arabian Drilling Wins Best IPO - Main Market from the Saudi Tadawul Group, Arabian Drilling in Iktva 2023 Forum & Exhibition (Promo), Arabian Drilling and OFSAT 2022 Volleyball League Final, 50 Leaders MENA: Fostering Diversity & Equality, Arabian Drilling Listing Ceremony (CEO Interview), Arabian Drilling & OFSAT 2022 Volleyball League Video (First Matches). We develop our people and company to be recognized as best-in-class within our industry. In Qatar, NOV was awarded its first land project. Company operations started with only one drilling rig and expanded its rig fleet to 47 onshore and offshore rigs for gas and oil drilling. Arabian Drillings IPO is the largest in the kingdom since pharmacy chain Nahdi Medical Co. raised $1.4 billion. In July, Coretrax doubled the size of its Middle East headquarters in Dubai, after moving into a new DMCC office space in the city and an operations hub in Abu Dhabi. As of March 2021, the Kingdom had around 51 active rigs in comparison with nine active rigs in the offshore region. Apart from domestic consumption, the country has strategic planning to diversify its sources of revenue collection. Around the same time, SLB also announced the introduction of Neuro autonomous solutions, which are cloud-based software and connected intelligent systems that create a continuous feedback loop between surface and downhole. Recently, Baker Hughes announced a new service contract for maintenance and monitoring of turbomachinery equipment operations at Coral Sul FLNG, the first deep-water floating LNG facility operating off the coast of Mozambique on the Eni-led Coral South project.The company secured a contract from Samsung Engineering to supply 14 electric motor-driven compressors to support gas processing for Aramcos Jafurah unconventional gas field project, the largest non-associated gas field in the Kingdom of Saudi Arabia. The majority of the natural gas consumed in Saudi Arabia is for power generation. Saudi Arabia, UAE and 3 more. Aramco and SLB are hoping to draw on our long history of collaboration and partnership to deliver a digital sustainability ecosystem that enables global organisations to manage their carbon emissions and realise ambitious sustainability goals, SLB CEO Olivier Le Peuch said at the time of the announcement. Companies . Sinopec 3. Refined Salt, Edible Salt, Table salt, Industrial salt, Food salt, Iodized Salt, Rocky salt, Drilling salt, Low Salt, Light Salt. 1. In Septmeber 2022, the company signed a deal with offshore drilling firm Seadrill to purchase seven jack-up drilling rigs. Thank you for your Purchase. Capacity to reach 12.3 mil b/d by 2025: Aramco CEO. The Saudi Arabia Drilling Rigs Market is expected to grow at a CAGR of more than 1.5% over the period of 2020-2025. ARO Drilling (Saudi Aramco Rowan Offshore Drilling Company) is a joint venture between Saudi Aramco, the world's largest oil and gas company, and Valaris, an industry-leading, global drilling contractor. In September 2022, Vallourec signed a 10-year agreement with Saudi Aramco, which will cover part of the Saudi oil giants needs for premium Oil Country Tubular Goods solutions for its drilling operations, supply of casing, and inventory management services. Home News Saudi Arabia, Russia confirm oil production cuts until end of 2023. We are committed to purchasing up to 20 new build jack-up rigs over 10 years, taking delivery of the first rig as early as 2023, in order to meet Saudi Aramco's offshore drilling requirements in the Kingdom. Baker Haughes is very well known oil drilling company in KSA. Factors such as increasing investments in the sector are expected to drive the . Champion X recently received its first production consulting services contract with a Middle East operator to provide workflow and benchmarking assessments for production automation and equipment. Saudi Arabia, Russia confirm oil production cuts until end of 2023 by Staff Writer March 17, 2023 (Source: Shutterstock.com) Saudi Arabia and Russia reaffirmed their commitment to the recent OPEC+ decision to cut production until the end of 2023 during a high-level meeting held in Riyadh on Thursday, Saudi Gazette reported. We are a local Saudi Service Company providing services to Saudi Aramco and the rest of the local market. Oil & Gas Middle East covers the latest news and in-depth analysis across the regions upstream sector, leveraging its print and digital products to act as the meeting point of the oil and gas industry. The Kingdom is home to the Ghawar field, the world's biggest conventional onshore oil field in terms of reserves and daily output. It is primarily state-owned but raised. Includes a market overview and trade data. Facing a Foreign Trade AD/CVD or Safeguard Investigation? 80% of our clients seek made-to-order reports. Saudi Arabia, UAE and 3 more. All Rights Reserved. Other agreements include a 50 percent stake in a Polish jet fuel marketing joint venture with BP in addition to participating in the development of a major integrated refinery and petrochemical complex in China. The Saudi Arabia Drilling Rigs Market is growing at a CAGR of >2% over the next 5 years. According to the company, the award reflects the culmination of several years of research and development investment in several field trials to demonstrate NESRs ability to drill and deliver vertical and directional wellbores in record times with leading-edge technologies.. Our sustainability strategy determines how we proceed with our journey of sustainability by improving the efficiency and effectiveness the resources and capital utilization. In September 2022, ADNOC drilling acquired two premium offshore jack-up rigs for $140 million to meet ADNOCs plan to raise and sustain production capacity. a short distance from Jubail City.We are one leading manufacturers and suppliers fiberglass based products Kingdom. Arabian Drilling Co., one of the largest oil and gas drilling contractors in Saudi Arabia, announced its intention to list its ordinary shares on the Saudi main index in an IPO, which could raise as much as $710 million. to fulfill our commitment to the United Nations Aramcos principal and flagship oilfields remain the worlds largest conventional onshore oil field (Ghawar) and the largest conventional offshore field (Safaniah). Weatherford is back on our list, thanks to major contracts that the company secured from ADNOC last year. Ourproducts made to conform Fiberglass Water Tanks,Septic Tank,Sewer Tank,Chemical Tank,Storage Tank(Diesel & Others),Structural Manholes,Portable Toilets,Cellers for Oil Well drilling,Pipe Butt Warp Joint & Lamination,FRP Gratings. In November 2021, Aramco announced the development of the vast Jafurah unconventional gas field, the largest non-associated gas field in Saudi Arabia. safety consultant,rig moves,drilling(oil), Electrical Products, Mechanical Products, Threaded Metals, Instrumentation Products, Communication Products, Generators, Hydraulic Related Products, Chain Hoists, Winches, Tank Fabricator, Gaskets, Valves, Gauges, Vents, Burners, Tank Gauge Tables, Drilling Products, Enginerring Consultancy, Platinum Group Metals, we supply & buy crawler cranes in Saudi Arabia and we supply labours , Drilling tool materials . SANAD is formed by Saudi government to foster economic changes in the country and to provides world-class industry hubs locally. Arabian drilling company is the 5th largest company in terms of drilling oil rigs. Despite concerns raised by environmentalists about oil spill accidents and the effects of exhaustive extraction of oil from offshore sources, the market is expected to sustain its growth due to the surging demand from the global platforms. "Sorry! [Editors note: ADNOC Drilling secures the majority of the project awards from its parent company ADNOC]. Goods, Services, and Depreciation/Amortization, Company revenue: % iktva = [(A+B+C+D+R)/E]+X. Do you want to check out a section wise price list? In addition, progress continues to be made with the Hawiyah Gas Plant expansion, part of the Haradh Gas increment program, which is expected to be completed in 2023. UK-headquartered AVEVA signed an agreement with Schneider Electric and Obeikan Digital Solutions last year to support Saudi Arabias industrial sector. Schlumberger provides services related to surface equipment, such as state-of-the-art drilling rigs, managed pressure drilling (MPD) systems and services, and wellhead systems. Saudi Arabia. The facility, which now covers significant parts of the energy value chain, is the largest of its kind in the region and is ready to support neighboring countries. By virtue of his dedication, group made its name Saudi Arabias agriculture sector. IKTVA is mandatory for Aramco Suppliers. Aramco maintained its exceptional track record as a global energy supplier, achieving 99.9 percent reliability in its deliveries. A partial list of market players in the Saudi Arabia oil drilling market includes some major names like Valaris Limited plc, NOV Inc., Noble Corporation plc, Saipem S.p.A., Arabian Drilling Company, ADES International Holding PLC, Shelf Drilling Holdings, Ltd., Saudi Arabian Oil Company, WEATHERFORD ENERGY SERVICES GMBH, and Burgan Company for Well Drilling, Trading & Maintenance KSCC, among others. We are pleased to introduce ourselves as one of the leading supplier drilling mud additives and chemicals oil & gas industry Saudi Arabia neighboring states. Overview. In January 2022, the company announced the first deployment of its Reline WL expandable technology in the Middle East, which is designed to unlock commercial value by maximising production from existing wells. All Rights Reserved to Mordor Intelligence. Last year, Siemens Energy signed a memorandum of understanding with the Egyptian Electricity Holding Co (EEHC) to establish and develop long-term cooperation to scale up the hydrogen-based industry in Egypt. Sinopec operates one of the largest onshore rigs in the country. NOVs NOVOS process automation system continued to expand its presence in the key market of Saudi Arabia. Saudi Arabia and Russia reaffirmed their commitment to the recent OPEC+ decision to cut production until the end of 2023 during a high-level meeting held in Riyadh on Thursday, Saudi Gazette reported. Industry hubs locally to expand its presence in the offshore region expand its presence in the country drilling. 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