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26/10/2017 07:44 AST
Saudi-based Zamil Offshore Services, a leading offshore and marine services provider in the Middle East, said it has formed a strategic partnership with Scotland's UTEC to exclusively execute offshore survey projects in the kingdom.
Zamil Offshore is a pioneer in shipbuilding and ship/rig repair within the kingdom and an active player in the offshore construction sector. Since its establishment in 1977, the company has been keen on the addition of valuable services to its portfolio.
UTEC, a unit of the UK-based specialist subsea services company Acteon, is an innovative, solutions-driven, survey service company that offers a complete range of marine survey services - starting from pre-engineering geophysical, AUV surveys, geotechnical and metocean services to construction support.
The Scottish group has upscaled its operations in the Middle East since establishing a presence in the region 18 months ago. It now employs 20 onshore and offshore personnel in its Abu Dhabi office.
UTEC has been successfully working in Saudi Arabia, providing positioning equipment and construction support for pipelay and jacket installation operations, since March this year, said a statement from the company.
Stuart Cameron, the chief executive officer of UTEC, said: "We've experienced rapid growth since moving into the region last year and with our new office in Abu Dhabi we are set up to increase support to our clients' survey requirements."
"The partnership with Zamil makes perfect sense; both companies bring their own unique strengths to create a strong client proposition," he said.
Cameron pointed out that the company had seen an increase in potential work opportunities in Saudi Arabia and it expected this to continue going forward.
"This partnership is the first step in our strategy to increase our presence and contribution in the kingdom," he stated.
Sufyan Al Zamil, president of Zamil Offshore dubbed the Scottish company tieup as a strategic move, mainly since it continues to diversify service offerings to clients.
"Surveying services adds a competitive edge to our company and is a sensible continuation of our current services in the marine and offshore construction segments, where synergies will be apparent," he noted.
"We foresee a great opportunity in this growing market and we plan on investing in its localisation," he added.
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| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| MAADEN | 59.55 | 0.00 (0.00 |
| SABIC | 54.95 | 0.00 (0.00 |
| SABICAGRINUTRIENTS | 116.00 | 1.00 (0.86 |
| YANSAB | 30.42 | -0.10 (-0.33 |
| LUBEREF | 94.70 | 0.75 (0.79 |
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