Al-Khobar, Saudi Arabia / Houston, USA – June 18, 2017 – Dynamic Industries Saudi Arabia Limited, (“Dynamic”) has been awarded a major Saudi Aramco offshore project under Dynamic’s Long-term Agreement with Saudi Aramco. The scope of work includes fabrication and installation of new hydraulic Emergency Shut Down systems on 26 separate offshore platforms in Aramco’s (and the world’s) most prolific offshore field, Safaniyah. Dynamic’s innovative Project Execution Strategy allows for a minimum of field shutdown time and lost production.
This latest project was awarded by Aramco under the long term agreement (“LTA”) that Dynamic has with Saudi Aramco. The LTA is a 6- year framing agreement with options for an additional 6 years, and gives Dynamic and a select number of other LTA recipients the exclusive right to bid on certain offshore projects for Aramco. Dynamic anticipates the execution of multiple EPCI projects to support Saudi Aramco’s Offshore Maintain Potential Program, Gas Program and other offshore work to be executed in the Arabian Gulf. The LTA was awarded to Dynamic in 2015.
Donnie Sinitiere, General Manager of Dynamic Industries Saudi Arabia and EVP & COO of Dynamic said “ We are honored to receive another project award from Saudi Aramco. We view this new award as not only another opportunity to demonstrate our capabilities to Saudi Aramco, but also as another vehicle for Dynamic to build its local workforce and investment in the kingdom. Separately, Dynamic will break ground in the next 30 days on a new project management office to support previously awarded work under the Aramco LTA. Dynamic’s goal is to maximize local content to the greatest extent possible and provide additional employment opportunities and career paths for the local workforce. Like with other previous awards, the new project award in the Safaniyah field provides another opportunity to advance that goal. Dynamic will execute Engineering, Procurement, Fabrication, Installation and Pre-commissioning in-Kingdom in Al Khobar, Saudi Arabia. We look forward to a safe, successful project execution and continuing our commitment to the In Kingdom Total Value Add program.”
About Dynamic Industries Saudi Arabia
Dynamic Industries Saudi Arabia, (“Dynamic Saudi Arabia”), is majority owned by Dynamic Industries LLC., (“Dynamic International”), a full service offshore EPCI contractor to the global offshore oil and gas industries. In mid-2015, Saudi Aramco awarded Dynamic Saudi Arabia and Dynamic International Long Term Agreement contracts, making the Dynamic team an integral partner in Saudi Aramco’s Offshore Maintain Potential Program and Gas Program. These visionary programs are designed to keep Saudi Aramco in its preeminent position in the global oil markets as well as enhance the supply of energy to the domestic Saudi market. (http://www.dynamicind.com/)
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