UAE dredging firm wins 3 Saudi contracts worth $1.8bn 

The National Marine Dredging Co. said that its subsidiary, the National Petroleum Construction Co., has received the contract. NMDC.
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RIYADH: The UAE’s public sector dredging company has won three contracts with a total value of nearly $1.82 billion from Saudi oil giant Aramco, according to a statement. 

In its filing to the Abu Dhabi Securities Exchange, the National Marine Dredging Co. said that its subsidiary, the National Petroleum Construction Co., had received the contract from the Saudi company to replace a marine pipeline. 

The company added that the scope of the project includes the replacement of the offshore subsea trunk line for an approximate length of 67 km. The value of this contract is estimated to be around $520 million. 

In another filing, NMDC disclosed that its subsidiary had received a similar letter from the same company for two projects, adding that they are part of the firm’s Arab medium facilities upgrade scheme. 

It noted that the scope of the two projects comprises the fabrication and installation of 11 slipover production deck modules and nine structural jackets in addition to the assembly of eight subsea pipelines with an approximate length of 23 km and 22 15-kilovolt subsea cables with a total approximate span of 115 km. 

It concluded that the total value of these awards amounted to $1.3 billion. 

Last October, the Saudi oil giant announced it had partnered with NMDC’s subsidiary and McDermott International to establish two offshore fabrication yards in Ras Al-Khair. 

According to a statement by Aramco, the move aims to deliver a more than 200 percent increase in Saudi Arabia’s offshore fabrication capacity, adding that the start-up of the facilities was planned for the third quarter of 2023, with the initial combined production capacity estimated at around 70,000 tons.

The Saudi company added that this would increase the Kingdom’s offshore fabrication capacity from 30,000 to 100,000 tons annually. 

According to NMDC’s website, the company, which was established in 1973, owns a fleet of 22 offshore vessels equipped with modern facilities to support its shallow and deep-water operations. It can lift structures weighing up to 4,200 tons and is capable of laying subsea cables and pipelines up to 66 inches in diameter in water depths from 10 to 2,000 meters.