INTERNATIONAL NEWS

Aramco Outlines Long-term Vision For ‘Energy City’

Saudi Aramco has issued details of a new development in its supply chain initiative, the In-Kingdom Total Value Add (IKTVA) program.

The King Salman Energy Park (SPARK) project is designed to position Saudi Arabia as a global energy hub attracting foreign and domestic investment.

Its focus will be on exploration, production, refining, petrochemicals, conventional power, and water production and treatment, with manufacturing and service activities ranging from equipment for drilling, electrical services, and liquids treatment; to exploration and production services; to pipes, vessels, tanks, valves, and pumps.

The 50-sq km (19.3-sq mi) ‘energy city,’ due to be completed by 2035, will be constructed at a location between Dammam and Al-Hasa, near various major established workforce providers and adjacent to highway and railway networks.

The location will also allow for integration with Dammam’s 3rd Industrial City, with proximity to power generation, water sources and logistical services.

Features will include a dry port; industrial training institutes; residential compounds; and commercial activities. SPARK should facilitate rapid response from domestic product and service providers to Aramco’s more pressing operational and developmental needs, the company added.

Over the long term it should lead to the creation of 100,000 direct and indirect jobs, at the same time establish an industrial base that fosters innovation, development, and global competition.

Last December, Schlumberger became the first company to pledge investment with a planned center at SPARK for manufacturing onshore oil and gas well platform products, as well as their supply chain products.

Negotiations continue with more than 120 other investors in the initial phase. Aramco will make SPARK its drilling and workover operation headquarters, and the base for its supply chain management center. First-phase construction should be completed in 2021.

Source: Offshore

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