SIGNIFICANT NEWS
Positive news in oil & gas with this prequalification for rig inspection and acceptance services for Saudi Aramco Drilling. The Middle East has been particularly resilient to the oil crisis, where Factorig has recently signed several contracts with new customers. Overall, the low breakeven levels, as well as continuing development works, will allow a decent level of activity in inspection services across the whole business cycle.
FACT
Dolfines Abu Dhabi represented by BAAS International Group (BIG Group) had been approved to bid on upcoming contracts for rig Inspection and acceptance services from Saudi Aramco Drilling.
ANALYSIS
This announcement follows the agreement received by Factorig from Saudi Aramco in H1 to work as a supplier. With this cleared, Dolfines is now able to bid for work in the Kingdom along with the other prequalified service suppliers.
Establishing a partnership with BIG Group seems to be driven by the legal requirements applying to foreign companies when bidding in Saudi Arabia. BIG Group is a Saudi conglomerate of several companies, offering services in oil & gas, logistics and communication.
