23 May 2024
Saudi Arabia, 23 May 2024: King Salman Energy Park a leading energy industrial ecosystem at the heart of the energy market, has announced the groundbreaking of Mubarak A. AlSuwaiket and Sons Oil&Gas Services Co.’s new state-of-the-art industrial facility at SPARK. The ceremony marks the commencement of construction work on the 41,081 square meter site, with operations expected to commence in the second quarter of 2025.
The new facility is set to become a cornerstone in the regional oil field products and services industry, offering an array of products and services in the field of engineering for the oil and gas sector and the alternative energy sector. It will also facilitate the drilling techniques and the treatment and disposal of polluted drilling output, as well as the production of anti-rust materials, onshore and offshore pipeline maintenance techniques, artificial intelligence, and several security technologies. The investment aligns with Saudi Arabia’s Vision 2030, intending to boost localization and support the development of domestic capabilities across a range of sectors, including manufacturing, technology, and services.
The groundbreaking ceremony was also attended by executives from SPARK and AlSuwaiket O&G, signaling the collaborative efforts to advance the Kingdom’s oil and gas industry in the region.
Speaking on the occasion, Nabil Chaachou, VP of Business Development of SPARK, said: “We are pleased to celebrate AlSuwaiket and Sons Oil & Gas Services Co.’s groundbreaking ceremony and welcome them as a tenant at SPARK. Our partnership reinforces SPARK’s commitment to championing the localization of the energy value chain in the Kingdom and reinforcing our position as a regional energy hub.”
Mubarak AlSuwaiket, Chairman of AlSuwaiket O&G said: “We are delighted and looking forward to our partnership with SPARK. We believe it is an effective opportunity to direct our investments to support the oil, gas, energy, and environmental sectors to achieve the goals of the 2030 vision. As we recognize the high potential of SPARK, we are investing with international companies to provide them with a professional and business friendly environment to export their experience to the Kingdom”.
About King Salman Energy Park (SPARK)
SPARK is a leading industrial ecosystem with sustainability at its core, connecting the world to opportunities in the Saudi energy sector and beyond. As a national Saudi megaproject proudly driving socio-economic impact locally and globally, SPARK is simultaneously catalyzing the Kingdom’s role in the global energy transition while offering a world-class ecosystem in the heart of the energy market for investors and tenants.
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About Mubarak A. AlSuwaiket and Sons Oil&Gas Services Co.
AlSuwaiket O&G is active in the domains of oilfield drilling, marine vessel chartering, pipeline corrosion prevention coatings, well control services, completion and well intervention tools and services, frac water and produced water recycling, oilfield contaminated waste and NORM disposal, oilfield well drilling software, electrical cables coating, predictive maintenance hardware and software.
