The Oil Field Supply Center (OSC) announced that it will invest US$570 million in King Salman Energy Park (SPARK) to build its oil and gas supply center or base in the Kingdom of Saudi Arabia.

The salinization base covers an area of 1 million square meters and is divided into multiple areas. This base is vital to the localization of the entire energy supply chain. It will enable investors to have a wider scope of supply and at the same time get the most benefit from their presence in SPARK.

Mohammad Yahya Al-Qahtani, Chairman of the SPARK Board of Directors, said: "SPARK is strategically located in the heart of the energy market in the region and is committed to providing investors with a convenient way to demand energy products and services. The OSC supply base is a key component of this strategy. , Aims to create a favorable environment for international and local companies as well as small and medium-sized enterprises to accelerate the localization process in Saudi Arabia.

"OSC provides pre-built industrial solutions, which brings risks to investors. In addition to providing a full set of support services, they can also flexibly rent industrial facilities and workshops on demand. The base is expected to create thousands of projects in the energy sector. job opportunity."

OSC Director and General Manager of Corporate Affairs Iqbal Mohammad Abedin said: “Achieving this important milestone has always been the focus of all our efforts. It consolidates OSC's realization of our business in SPARK and provides local content for all companies wishing to do business in Saudi Arabia. We have seen strong interest from international companies and small and medium-sized enterprises (SMEs) before. After receiving the award, we expect that the demand for industrial facilities will increase, and all phases of work will be in the fourth quarter of 2023 carry out."

Abedin added: “The only fully integrated energy hub in the region, SPARK, has established an oil and gas supply base on site. This is another example of how the project complements Aramco’s In-Kingdom Total Value Added (iktva) program, which encourages the Project diversified development, sustainable development and global competitiveness in the kingdom of the energy sector."

SPARK aims to become the world's leading energy-centric ecosystem by laying the foundation for the development of the industry. With the establishment and maintenance of oil and gas supply bases, OSC's initial investment of US$570 million is expected to further create value and provide ready-made solutions for investors and partners.

SPARK has completed 80% of the first phase of infrastructure development and is the first industrial city in the world to obtain LEED Silver certification. The construction of the OSC Center aims to minimize the impact on the environment through SPARK's focus on sustainability and environmentally friendly design. Editor/Sang Xiaomei