twitteryou tubefacebookacp

Saudi Aramco shortlists firms for non-oil projects

Saudi Arabia is embarking on its economic transformation under lowered oil prices. (Image source: John Mcsporran/Flickr)

Oil giant Saudi Aramco has shortlisted four companies to help it manage non-oil construction projects, according to a news report

According to Bloomberg, Canada?s SNC-Lavalin, US-based Jacobs Engineering, Faithful & Gould, part of UK-headquartered Atkins, and Dar Al-Handasah Consultants Ltd., have been shortlisted for the new project management joint venture.

However, neither Saudi Aramco nor the companies commented on the report.

Saudi Arabia plans to transform Saudi Aramco from an oil and gas company into an industrial conglomerate to prepare the kingdom?s economy for the post-oil era, Deputy Crown Prince Mohammed bin Salman had told Bloomberg beginning this year.

The plan also includes selling a stake in the company and transforming its ownership to the kingdom?s sovereign wealth fund.

Saudi Aramco is already a major property developer, having managed the building of King Abdullah Sports City in Jeddah and King Abdullah University of Science & Technology (KAUST) on the Red Sea.

Citing three sources, Bloomberg said Saudi Aramco plans to set up the project management joint venture in early 2017. The project management company is expected to employ around 6,000 people over a decade, at least 50 per cent of them will be Saudi Arabian nationals.

Erich Kaltmann, managing director of Mosdorfer GmbH. (Image source: Mosdorfer)

With RFID, assets can be given unique digital identities that enable you to identify and locate them all at once, from a distance, in real time.

The new Perkins 5012 is a full-authority electronic engine optimised and purpose-built for power generation applications. (Image source: Perkins)

Etihad Rail routinely conducts environmental impact assessments. (Image source: Etihad Rail)

UL Solutions launches HOMER Front 1.0, enhancing energy storage system design with advanced forecasting capabilities. (Image source: UL Solutions)

Special belt covers guarantee an effective reduction in dust. (Image source: Wirtgen Group)

Daryl Wake, business development manager, DEKRA

Schneider Electric will also provide ongoing energy management consultancy and power systems engineering expertise. (Image source: Schneider Electric)

Markus Oberlin, CEO of Farnek. (Image source: Farnek)

DNV's survey unveils energy sector optimism amid challenges, with political uncertainty looming. (Image source: Adobe Stock)

The villa has an overall built-up area of 300 sqm. (Image source: 3DXB)

The emphasis is on constantly optimising value creation processes. (Image source: Rittal)

The UAE’s construction market was valued at US$94bn in 2023. (Image source: Peikko Gulf)

SSAB will begin deliveries of the new products in 2026. (Image source: Manitou Group)

The plant will add 80MW of power generation capacity from a non-fossil fuel source. (Image source: ALEC)

UL Solutions launches HOMER Front 1.0, enhancing energy storage system design with advanced forecasting capabilities. (Image source: UL Solutions)

SSAB will begin deliveries of the new products in 2026. (Image source: Manitou Group)

The new Perkins 5012 is a full-authority electronic engine optimised and purpose-built for power generation applications. (Image source: Perkins)

DNV's survey unveils energy sector optimism amid challenges, with political uncertainty looming. (Image source: Adobe Stock)

An example of the kanban method deployed at Staytite. (Image source: Staytite)

Markus Oberlin, CEO of Farnek. (Image source: Farnek)

Erich Kaltmann, managing director of Mosdorfer GmbH. (Image source: Mosdorfer)

The emphasis is on constantly optimising value creation processes. (Image source: Rittal)

With RFID, assets can be given unique digital identities that enable you to identify and locate them all at once, from a distance, in real time.

The ground-breaking product on display is the FLIR Si2-Pro, an industrial acoustic imaging camera for partial discharge detection, pressurised leak detection and mechanical fault detection. (Image source: Teledyne FLIR)

The four-point track system is available globally on four boom lifts up to 80 ft / 24 m class. (Image source: Genie)

Etihad Rail routinely conducts environmental impact assessments. (Image source: Etihad Rail)

The UAE’s construction market was valued at US$94bn in 2023. (Image source: Peikko Gulf)

David Mooney, vice president and MENA lead at Efficio. (Image source: Efficio)