OSC awarded $570m contract to set up facility at SPARK

The contract will entail the creation of the Oilfields Supply Center Limited (OSC) facility, which will measure one million square metres and includes multiple areas and zones

Dubai Government-owned firm Oilfields Supply Center Limited (OSC) has been awarded a contract by Saudi Arabia’s King Salman Energy Park (SPARK) to construct a facility at the industrial city.

Worth $570m, the contract will comprise the creation of the OSC base, which will measure one million square metres and include multiple areas and zones.

According to OSC, the centre is critical to localise the full energy supply chain, enabling investors to supply to the broader region’s and gain maximum benefit from their presence at SPARK.

OSC’s initial investment of $570m is expected to contribute to further value creation, as it creates and maintains the oil and gas supply base and provides pre-built solutions for investors and partners of all sizes.

Commenting on the contract, Dr. Mohammad Yahya Al-Qahtani, Chairman of the Board of Directors at SPARK said: “Strategically located at the heart of the region’s energy market, SPARK is focused on providing investors with ease of access to the demand for energy good and services. The OSC supply base is a key component of this strategy to create a favourable environment for international and local companies as well as SMEs to accelerate the localization in Saudi Arabia.”

He added: “OSC is providing pre-built industrial solutions which de-risks the set-up phase for investors and give them flexibility to rent industrial facilities and workshops on demand in addition to providing a full set of supporting services. The base is expected to create thousands of jobs in the energy fields.”

Meanwhile, OSC Director and Corporate Affairs General Manger, Iqbal Mohammad Abedin, said: “Reaching this vital milestone has been the focus of all our efforts. It cements OSC’s commitment to realizing our business at SPARK and enabling local content for all companies wanting to do business in Saudi Arabia. We believe this builds on momentum and contributes to a vibrant and world-class ecosystem.”

Source: Construction Week Online

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