(MENAFN- Mid-East)
Khobar, Saudi Arabia- Front End Limited Company, a Saudi-owned company that provides advanced products and solutions to the energy and industrial and maritime and logistics sectors, and UTEC Survey Asia Pte Ltd, a Geo-services brand in Acteon Group Ltd's Data and Robotics division, have announced the signing of a a partnership agreement. This strategic partnership positions Front End as the exclusive partner for Acteon's services in \ Saudi Arabia, with a focus on the offshore energy sector, including renewable energy, oil & gas industries, and specifically targeting EPCI functions and Saudi Aramco's LTA Offshore Members in the Kingdom.
The agreement aligns with the objectives of Saudi Vision 2030's National Industrial Development and Logistics Program (NIDLP), which seeks to transform the Kingdom into a prominent industrial force and a central hub for global logistics, which represents a notable advancement in the evolution of the offshore energy industry in the region.
The agreement formalizes the collaborative efforts of Front End and Acteon to provide a wide range of specialized services in the offshore energy domain including geophysical, remotely operated vehicle (ROV), unmanned surface vehicle (USV), autonomous underwater vehicle (AUV), and geotechnical surveys and consultancy, to cater to the growing demands of offshore engineering, procurement, construction, and installation (EPCI) contractors and major offshore projects spearheaded by Saudi Aramco.
Majid Alghaslan, Chairman and CEO, Front End Limited Company commented,“This partnership with UTEC through Acteon, represents our commitment to utilizing the highest caliber of advanced technology to compliment and feed the transformative shift taking place in the Kingdom's offshore energy sector. It is not difficult to identify opportunities in spaces where growth on all fronts is exponential, like in Saudi Arabia. The key is to find the right partners with whom you share the same values of quality and experience and deliver the most reliable and innovative solutions. We are excited about this strategic agreement while we expand our portfolio as the Kingdom embarks on an ambitious economic diversification plan as part of Vision 2030.”
Sudhir Pai, Executive Vice President, Data and Robotics Division, Acteon said,“Today marks a significant milestone as we proudly announce the strategic partnership between UTEC and Front End, a distinguished energy addition organisation based in Saudi Arabia. As UTEC and Front End join forces, we anticipate numerous opportunities, with plans to welcome technologies and services to the partnership from other Acteon companies. This forward-looking strategy aims to expand both parties' influence, creating a resilient ecosystem for sustained growth in the energy addition sector. The collaboration strategically combines our strengths but also reaffirms UTEC's cutting-edge advancements in geoscience technology and development in the Kingdom of Saudi Arabia.”
The partnership is particularly focused on enhancing the capabilities of LTA Offshore Contractors Members and other EPCI contractors involved in Saudi Aramco projects. As global energy demand and need for long-term energy security increase, Saudi Aramco is leading massive offshore and marine expansions to maximize oil production, optimize costs, and strengthen the company's global market presence. This undertaking will secure lasting energy stability, boost Saudi Arabia's economy, drive future energy advancements in sustainability and technology, and ultimately support the energy transition.
About Front End:
Front End is a 100% Saudi-owned company, is a leading service provider of advanced products and solutions. Its divisions, subsidiaries and joint venture companies are focused on oil field services and renewable energy, information and communication technology services, building materials, infrastructure, industrial, maritime services, and manpower supply for the various economic sectors in the Kingdom of Saudi Arabia and neighboring countries.
About Acteon:
Acteon provides specialist engineering, services and technology to companies who develop and own marine infrastructure across the life of their assets. They enable their customers to achieve operational goals with a more efficient integrated solution: reducing the cost and carbon footprint through value engineering without compromising the quality of delivery. This is achieved by applying extensive domain expertise to increase efficiencies and enhance commercial and environmental value for customers across the renewable, nearshore construction and oil and gas industries.
About UTEC:
UTEC provides a wide range of global survey, positioning and data management services using the most advanced equipment and techniques on the market. The data generated provides customers with the information they need to make critical, well informed, business decisions, supporting all phases of construction. Surveys performed by UTEC are designed and deployed to use less equipment and optimise vessel usage to reduce the length and cost per survey, and dedicated teams remain on a project from start to finish to ensure that knowledge is retained through the cycle.
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