US brownfield specialist expected to be one of four signatories of long-term contract for offshore work with Saudi Aramco
The US Dynamic Industries International has formed a joint venture with the local Bandariyah International and the company will be based in Al-Khobar in the Eastern Province. The name for the local joint venture will be Dynamic Industries Saudi Arabia.
In a press release the company stated that the joint venture would provide Dynamics offshore project execution services to Saudi Aramco and affiliates. This makes it extremely likely that the company will be signing a deal with Saudi Aramco as part of a programme to put in place a series of long-term agreements (LTAs) with suppliers to provide engineering, procurement and construction (EPC) services on its offshore facilities.
Dynamic stated to MEED that, as of 25 May, no deal had yet been agreed with Aramco despite the wording of the press release.
MEED reported in early May that Aramco has agreed five-year deals with four companies. The major winner was the US McDermott, but deals have also been struck with Singapores Emas and Italys Saipem.
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