Latest news with #NIDC
Yahoo
27-05-2025
- Business
- Yahoo
NIDC drilling operations complete 20 wells in two months
The National Iranian Drilling Company (NIDC) has completed the drilling of 20 onshore oil and gas wells in the span of two months, ending 21 May. The operations utilised the company's own rigs, marking an achievement in its drilling programme. Hamidreza Shafi'ee Makvandi, NIDC deputy head for drilling operations, reported that the completed wells comprised four development and appraisal wells, alongside 16 workover or completion wells. The majority of these wells were situated in oilfields managed by the National Iranian South Oil Company (NISOC), with additional wells distributed among the Central Iranian Oil Fields Company, the Petroleum Engineering and Development Company and the Pars Oil and Gas Company, with one project finalised and delivered to the respective client. Shafi'ee Makvandi highlighted that the total drilling depth achieved during this period was 21,773m, an increase of 1,619m compared with the same time frame in the previous year. He also noted the strategic relocation of 12 drilling rigs across various operational zones to optimise the company's drilling efforts. The US recently escalated its measures against the Iranian oil trade, with President Donald Trump declaring a halt to any purchases of Iranian oil or petrochemical products. He warned that secondary sanctions would be enforced on any entities involved in such transactions, potentially excluding them from US business dealings. In April, Russia and Iran agreed in principle to annual gas supplies amounting to 55 billion cubic metres. Russia has also pledged to fund the construction of a new nuclear power plant in Iran, a move that comes as the US seeks to isolate Iran unless it agrees to a revised nuclear inspection regime. "NIDC drilling operations complete 20 wells in two months" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
14-05-2025
- Business
- Yahoo
New Saudi deal aims to grow food packaging sector
Saudi Arabia has signed a memorandum of understanding (MoU) with global packaging firm Sidel to evaluate the establishment of advanced packaging operations within the Kingdom. The agreement, signed in Paris during an official ministerial visit to France, aims to support the localisation of high-tech manufacturing capabilities and strengthen the food and beverage packaging sector. The MoU was formalised by Eng. Saleh AlSolami, CEO of the Saudi National Industrial Development Center (NIDC), and Clive Smith, Executive Vice President of Customer Management for Asia, Oceania, and Africa at Sidel. The signing was attended by Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and Sidel CEO Pietro Cassani. The agreement outlines a plan to jointly assess the feasibility of establishing local production and services in Saudi Arabia. This is in response to increasing demand within the Kingdom's food and beverage packaging market, a sector viewed as central to broader industrial growth under the Vision 2030 framework. By localising advanced packaging technologies, the partnership seeks to facilitate knowledge transfer and enhance industrial self-sufficiency. According to officials, Sidel's global expertise could help the Kingdom develop competitive capabilities across strategic sectors. The deal forms part of Saudi Arabia's efforts to attract foreign direct investment and deepen cooperation with multinational companies. The NIDC described the agreement as a step toward building long-term, value-added partnerships that promote economic diversification and private sector development. The Minister's visit to France also includes meetings with senior executives from leading industrial firms such as Airbus, Safran, and Lesaffre. These discussions are intended to explore further cooperation in high-tech sectors and support the Kingdom's broader industrial strategy. Saudi Arabia has reaffirmed its commitment to creating an attractive environment for global investors in manufacturing and packaging. Officials highlighted the availability of financial incentives, skilled local talent, and regulatory support designed to enable the localisation of international supply chains. The Sidel agreement reflects a broader ambition to enhance the Kingdom's industrial base by partnering with companies that bring innovation, advanced processes, and long-term investment potential. The initiative is expected to support local manufacturers and help reduce reliance on imported packaging solutions. "New Saudi deal aims to grow food packaging sector" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
ME Construction
10-04-2025
- Business
- ME Construction
Saudi Vision 2030: Sennebogen to manufacture crawler cranes in Saudi Arabia
Machinery Saudi Vision 2030: Sennebogen to manufacture crawler cranes in Saudi Arabia By Major manufacturing deal set to accelerate Saudi government goals for the expansion of industrial development and local manufacturing in the Kingdom SENNEBOGEN has agreed a strategic partnership to locally manufacture crawler cranes through its national partner PWS and Bersy Engineering Consultancy Bec-Fze with backing from the National Industrial Development Center (NIDC), the industrial investment arm of the government of Saudi Arabia. As part of Saudi Arabia's Vision 2030 and its ongoing efforts to localise strategic industries, Pipes & Wells Services Company (PWS), a subsidiary company of Abdel Hadi A. Al-Qahtani & Sons (AHQ), signed the industrial partnership with the leading German manufacturer 'to manufacture an attractive product line of crawler cranes within the Kingdom of Saudi Arabia' this week. The deal was sealed with the support and presence of the National Industrial Development Center (NIDC), with 'the goal of enhancing technology transfer and advancing local manufacturing capabilities'. The official agreement was signed by Abdulmalik Alqahtani on behalf of PWS, Erich Sennebogen on behalf of SENNEBOGEN, and Eng. Bakr Bersy Bersy on behalf of BEC. The signing ceremony was also attended by Eng. Mohammed Atia Nosser, General Manager of the Equipment Division at PWS, along with the Executive Vice President of the NIDC and the Manager of the Machinery and Equipment Sector at the Center. Saudi Arabia's construction industry is emerging as a global leader, showcasing substantial investment and employment opportunities for both domestic and international companies. The nation's focus on mega-projects and advanced infrastructure initiatives is successfully attracting foreign businesses by promoting an environment centered on sustainability and innovation. This transformation is evident in the machinery sector of the Middle East, where the demand for various types of equipment continues to rise. SENNEBOGEN and PWS, recoognises this trend and are poised to invest in the production of the first crawler cranes manufactured in Saudi Arabia, noted Hasan Al-Shehri, Business & Product Development Manager at NIDC. 'I am honored to be part of this localisation journey, and we eagerly anticipate the establishment of a state-of-the-art factory in the country soon.' 'This initiative is part of the NIDC's efforts to promote collaboration between local and international companies and to bolster the growth of the Kingdom's industrial sector, positioning it among the world's leading nations in this domain. 'This partnership aims to enhance the transfer of cutting-edge industrial technologies and develop local manufacturing capabilities, marking a significant milestone in the localisation of the heavy equipment manufacturing sector,' said Al-Shehri 'It will also strengthen local supply chains, create high-quality job opportunities, facilitate knowledge transfer, and empower national talents.'
