26/10/2017 07:44 AST

Saudi-based Zamil Offshore Services, a leading offshore and marine services provider in the Middle East, said it has formed a strategic partnership with Scotland’s UTEC to exclusively execute offshore survey projects in the kingdom.

Zamil Offshore is a pioneer in shipbuilding and ship/rig repair within the kingdom and an active player in the offshore construction sector. Since its establishment in 1977, the company has been keen on the addition of valuable services to its portfolio.

UTEC, a unit of the UK-based specialist subsea services company Acteon, is an innovative, solutions-driven, survey service company that offers a complete range of marine survey services - starting from pre-engineering geophysical, AUV surveys, geotechnical and metocean services to construction support.

The Scottish group has upscaled its operations in the Middle East since establishing a presence in the region 18 months ago. It now employs 20 onshore and offshore personnel in its Abu Dhabi office.

UTEC has been successfully working in Saudi Arabia, providing positioning equipment and construction support for pipelay and jacket installation operations, since March this year, said a statement from the company.

Stuart Cameron, the chief executive officer of UTEC, said: "We’ve experienced rapid growth since moving into the region last year and with our new office in Abu Dhabi we are set up to increase support to our clients’ survey requirements."

“The partnership with Zamil makes perfect sense; both companies bring their own unique strengths to create a strong client proposition,” he said.

Cameron pointed out that the company had seen an increase in potential work opportunities in Saudi Arabia and it expected this to continue going forward.

"This partnership is the first step in our strategy to increase our presence and contribution in the kingdom," he stated.

Sufyan Al Zamil, president of Zamil Offshore dubbed the Scottish company tieup as a strategic move, mainly since it continues to diversify service offerings to clients.

"Surveying services adds a competitive edge to our company and is a sensible continuation of our current services in the marine and offshore construction segments, where synergies will be apparent," he noted.

“We foresee a great opportunity in this growing market and we plan on investing in its localisation,” he added.


Trade Arabia

Zamil Industrial SAR 263 million net profit for year 2015

20/01/2016

Zamil Industrial Investment Co. (Zamil Industrial) has announced its consolidated interim financial results for the period ending 31 December 2015.

Net profits for the fourth quarter of 20

Press Release

Zamil Steel Construction Company wins SR19 million Aramco contract

29/10/2015

Zamil Steel Construction Company (ZSCC), a subsidiary of Zamil Industrial Investment Co. (Zamil Industrial), was recently awarded an engineering, procurement and construction (EPC) contract worth aro

Arab News

Zamil Industrial Investment Co. Awarded SAR 118.8 Million Contract

12/07/2015

Zamil Structural Steel Company Ltd. (ZSSC), a wholly owned subsidiary of Zamil Industrial Investment Co. (Zamil Industrial), has been awarded a contract valued at SAR 118.8 million (USD 31.7 million)

Press Release

Ticker Price Volume
QNBK 161.50 144,143
SABIC 129.20 5,384,386
EEC 20.76 5,394,179
CHEMANOL 10.70 7,933,735
WALAA 28.60 174,561
HOKAIR 21.10 294,825
APPC 56.10 130,220
ZIIC Sector Market
P/E
Price/BookValue
Dividend Yield (%)
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
SABIC 129.20 -0.20 (-0.16%)
MAADEN 58.00 -0.80 (-1.37%)
YANSAB 74.10 -1.90 (-2.50%)
KAYAN 18.14 1.06 (6.20%)
SAFCO 64.70 0.70 (1.09%)
Nakheel opens Dh60m retail Pavilion at Badrah

23/07/2018

Property developer Nakheel on Sunday announced the completion of a new Dh60 million retail Pavilion at Badrah in Jebel Ali. The new retail complex, operated by Nakheel Malls, will offer more than 800

Gulf News

DIB launches new Skywards co-brand credit cards

23/07/2018

Dubai Islamic Bank (DIB) has partnered with Emirates Skywards to launch new credit eards tailored specifically to offer exceptional value to the country’s growing community of frequent flyers.

Gulf News

UDC finalises construction of Al Mutahidah Towers’ connecting bridge

23/07/2018

United Development Company, a leading Qatari shareholding company and master developer of The Pearl-Qatar, has marked another milestone in the development of Al Mutahidah Towers with the construction

The Peninsula

Kuwait consumer spending rebounds in June: NBK

23/07/2018

Kuwait’s consumer spending index increased 8.5 per cent year-on-year (y/y) in June, supported by a pickup in the consumption of durables and non-durables, said the National Bank of Kuwait (NBK) in it

Trade Arabia

SEC, GE stress on long-standing partnership

23/07/2018

Saudi Electricity Company (SEC) and GE, in a statement, have stressed on the importance of their long-standing partnership for both the companies.

For almost 40 years, SEC and GE have par

Trade Arabia