Bahrain-based Asry, a leading ship and rig repair yard, is targeting more business in Saudi Arabia, which contributed about 40 per cent of its total sales last year, the company’s top official has said.
Chief executive Nils Kristian Berge said that the number of rigs in Saudi Arabia continues to increase as do the number of LPG, chemical tankers and container carriers in the region due to the development of Jubail Industrial City and expansion of Dammam port.
“Asry is looking to convert the increased traffic into potential business opportunities if those vessels are due for dry-docking,” he said.
However, the main driver of marine repair optimism remains Saudi Aramco, which is showing no signs of decreasing its activities.
This combined with a gradually recovering global market, makes for a good outlook for business growth in the country, he added.
Asry has also been working with other major marine players such as Zamil, who are also showing signs of optimism.
“Since opening a new representative office in Al Khobar in the country’s Eastern Province during the first quarter last year, Asry’s Saudi interests have steadily been on the rise.”
The company realised that by creating a local presence, it would have a greater opportunity to capitalise on growing market potential. The year-on-year growth in Saudi business is mainly due to the offshore services division, which is largely Saudi-based revenue.
“Of Asry’s total Saudi Arabian business last year, 66pc came from the offshore services division.”
Major rig jobs for the company included three of Saudi Aramco’s jack ups; ARB 1 which was in for leg guide repairs, while ARB 2 and Arabiyah 3 both underwent five-year surveys.
Asry also carried out minor repairs to Nabors Rig 655, Shelf’s High Island 7, and phase one of maintenance on Focus Energy’s Jupiter 1, he said.
According to Mr Berge, the company’s new construction and engineering division too has been growing its portfolio of projects since it launched last year, and has worked on increasingly specialised jobs, some of them for Saudi clients.
“In the past year, Asry has carried out conversions on Zamil 63, Zamil 64 and Zamil 502, which were all converted from anchor handling tug-cum-supply vessels to either remotely operated vehicles/dive support vessels or commissary supply vessels.
“The entire engineering requirements – including all hull, machinery, electrical and stability drawings and computations – on the ships were carried out by our engineering division.”
The division also got ABS and BV technical and engineering standards compliance for all the work done by it, thus delivering a one-shop solution, he said.
“We are also working closely with Zamil Offshore to offer shallow water anchor handling vessels and with port terminal operators such as ATCO for harbour tugs and Red Sea gateway terminal for container barges.”
Mr Berge said the pre-installation engineering of a large crane for fitment on Rimthan 2, enabled the yard to win the job of detailed engineering for installation of the crane.
“Having recognised the rise in Saudi rig business, particularly land rigs, the market has become a strategic priority for us with developments such as the newly-formed Navy, Defence & Industrial Projects Department, which already has a foothold in the defence industry’s marine repair needs.
“The shipyard’s presence throughout the country has also increased with participation in exhibitions and conferences, such as the Saudi Maritime Congress, held recently,” he added.