Offshore rig builder Lamprell has won an engineering design services contract with Saudi Arabia's International Maritime Industries (IMI).
Lamprell said the work would form an integral part of IMI's 2030 new build rig program; supporting the strategy for establishing itself as a fully autonomous in-Kingdom yard facility servicing clients in the maritime sector including maintenance, repair, overhaul and newbuild rigs and ships.
"Starting immediately and extending over the next three years, the work will be undertaken in two parts: an initial phase incorporating full detailed design engineering, followed by the production design phase," Lamprell said. Lamprell said the value of the contract was between $6 million and $50 million.
IMI is a Saudi joint venture between Saudi Aramco and partners Lamprell, the National Shipping Company of Saudi Arabia, and Hyundai Heavy Industries, established in late 2017. Located in the King Salman Complex for International Maritime Industries & Services at Ras Al-Khair, Saudi Arabia, once completed, IMI will be the largest, full-service maritime facility in MENA.
Christopher McDonald, CEO, Lamprell said: "Working closely with our IMI partners, we are delighted to be starting this key piece of engineering work. It complements and builds on the two jack-up rigs we were awarded at the beginning of the year.
"Also, it further expands our remit for being able to welcome Saudi nationals into our facilities as part of supporting IMI's local capacity building. When completed, the maritime yard in Saudi Arabia will become a major contributor to the local economy and we are proud to be associated with such a strategic vision."
When the construction of the IMI complex is complete, the annual capacity of the facility will be four new-build offshore rigs and over 43 new build vessels including VLCCs, in addition to servicing more than 260 maritime products.