Aramco signs MoU for $250m energy park in KSA
Oilfields Service Contracting Co to plan, build and operate park
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Saudi Aramco and the Oilfields Service Contracting Co. (OSCC) have announced that they recently signed a Memorandum of Understanding (MoU) aimed at promoting cooperation on the establishment of a $250 million energy park in Dammam.
Under the MoU OSCC will plan, build, own and operate the park, which is considered the first project of its kind in the KSA to use the common user supply base concept.
Under that concept, OSCC will make available full-service logistical capabilities, leaving clients to focus on their core business.
The project will be built on 1.5 million square meters of land at Dammam’s Second Industrial City, with an estimated investment of about $250 million.
OSCC hopes to attract international, regional and local oil and gas service companies as well as power-generation companies that will build facilities at the park.
More than 120 manufacturing, workshop and material storage facilities are expected to occupy the park, which when completed will create nearly 2,000 jobs. OSCC plans to start commercial operations of the park by mid-2011.