STATS Group investment in new Saudi base consolidates growth in Middle East pipeline isolation market
Published by Isabel Stagg,
Editorial Assistant
World Pipelines,
STATS Group (STATS) announced a significant expansion of its operations in the Kingdom of Saudi Arabia, marking a strategic milestone in the company's global growth.
The company has opened a new 2500 sq m base in Dammam in the country’s Eastern province, and the newly created Saudi operating company STATS Limited Co. for Oil Services has been awarded Approved Vendor status by one of the Kingdom’s leading energy Operators.
With more than US$4 million in assets and equipment assigned to Dammam, STATS is now the first Saudi-dedicated hot tap and double-block and bleed isolation specialist and holds the most extensive inventory of large-diameter pipeline isolation equipment in-country.
A significant investment in the new service hub included provision for offices, crane facilities, testing bays and equipment storage to the global STATS ISO standard – and hosts STATS’ patented Tecno Plug® and BISEP® double block isolation tools in sizes up to 56 in., alongside Hot Tapping Machines of various sizes up to 60 in. and Inline Weld Testing equipment.
Aligning with Saudi Arabia’s ‘Vision 2030’ programme, STATS is also committed to building a predominately Saudi workforce and has already employed nationals in business development, technical and engineering roles.
STATS Group’s Vice President for the Middle East, Mark Gault, said: “We have a long standing relationship with the Kingdom’s leading energy sector companies and setting up a local entity and opening a base is the natural next step in growing our market presence.
“This investment not only strengthens our infrastructure and ability to more rapidly respond to clients needs, but it underlines our commitment to local innovation and to creating employment and skills learning opportunities for Saudi nationals.
“By opening our new service hub we can now host the largest inventory of hot tapping and isolation equipment in the region, and we have a unique qualification as the only approved contractor providing subsea hot tapping services for a national Operator.”
Saudi facility
The Middle East is one of STATS’ largest markets and the latest investment in Saudi Arabia mirrors the company’s policy of establishing a strong local presence and operational infrastructure in Abu Dhabi, Oman and Qatar. The company now has approximately 160 staff based in the region – a 66% increase in the last year.
Mark Gault added: “We firmly believe in having our own people on the ground in strategic markets and with our best-in-class technologies this is now paying off with engagement with high profile EPCs and end-clients at FEED stage, meaning STATS’ contribution to major projects is start-to -finish.”
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Read the article online at: https://www.worldpipelines.com/project-news/11122024/stats-group-investment-in-new-saudi-base-consolidates-growth-in-middle-east-pipeline-isolation-market/
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