Saudi Arabia will spend $283 billion in projects SGS helps to assure quality and safety
Saudi Arabia had record oil revenues in 2006 in excess of $203 billion, 25% above the previous year and requires a figure of $38 per barrel to balance the budget, present price is around $55 per barrel. The Saudi Arabian Bank (SAMBA) reported that 37 megaprojects are currently underway in Saudi Arabia with a total value of $283 billion.
Saudi Aramco as the biggest oil production company in Saudi Arabia has currently 150 active projects, ranging from $2 million to $10billion. The recent rise in demand for energy makes Saudi Aramco engage in the largest expansion program in its history, encompassing crude oil production, refining and petrochemicals production.
SGS – Industrial Services, KSA are currently serving many of these Mega Projects with resources located in Dammam. Gamma Radiography, Magnetic Particle and Dye Penetrant Inspection as well as Ultrasonic Testing represent the largest volume of work presently undertaken within these projects but the major facility owners in the Kingdom, ARAMCO, SABIC, SEC, SWCC are requesting SGS to bring to the fore all advanced technologies we are able to supply to meet the growing needs for both new construction and regular maintenance programs that are available.
To highlight some of the services SGS currently have available worldwide and to show full commitment to the region, a seminar aimed specifically at ARAMCO was held at the beginning of March in Khobar, Eastern Province KSA.