Shoaibi Group announces barge JV with GMS
Saudi firm joins forces with Gulf Marine Services in KSA barge venture
A new joint venture between Saudi Arabia’s Shoaibi Group and the UAE’s Gulf Marine Services (GMS) has been created to provide offshore barge operation services in the KSA.
The new company will be called Gulf Maritime Services Saudi Arabia Ltd (GMSSA), and will be based in Al Khobar, Saudi Arabia.
Both JV partners claim that the GMSSA will allow them expand their off-shore operations of barge charters and will put them in a strong position to take advantage of future growth in the region.
“Saudi Arabia is an extremely important market to us. Shoaibi Group’s experience in the Saudi oil and gas sector perfectly complements GMS’s area of expertise,” Duncan Anderson, CEO of GMS said.
We believe we have the ideal partner to establish ourselves in the largest single market in the Arabian Gulf,” he added.
“We are delighted to partner with GMS, the leading regional operator of best-in-class offshore barges and support vessels,” Khalid Al Shoaibi, Shoaibi group director said.
“We are confident that our partnership will be of invaluable service to the further development of Saudi Arabia’s offshore oil and gas industry,” he added.