Red Sea International Signs Contract with Baker Hughes for SR 245,77 Million

Red Sea International Company (RSI) has signed a 7- year contract with Baker Hughes Company to design, manufacture, supply and mange remote mobile modular buildings to support its oil drilling operations in the Eastern region.

The contract subject matter is to design, manufacture, supply, and operate specialized modular camps to support the oil drilling operations of Baker Hugh Company in the Eastern region.

The contract value is SR 245,773,094.

“The Red Sea International Company signed the 7-year contract with Baker Hughes Company, one of the largest oilfield services companies in the world, to design, manufacture, supply, and operate three camps in the Eastern region to support its oil drilling operations in the region.” the company said.

The camps consist of various fully furnished modular units that are used as admin offices and accommodations, which are built of high-quality components to sustain the harsh weather conditions and continuous mobilizations to different locations.

The contract also entails providing facility management services which include catering, laundry, power generation, garbage collection and sewage treatment.

“Revenues and profits will be realized starting from Q1 2022. There are no related parties in the Contract.” The Red Sea said.

The Red Sea International Company (RSI) is a leading Saudi company in the field of providing modular solutions and construction of high quality administrative and residential complexes and field hospitals in very short periods and establishing the necessary infrastructure for various sectors, in addition to operating these complexes and providing all living requirements for guests during occupancy including electric energy, pure water, food supply and wastewater treatment.

The company uses high quality local products and manufactures modular units in its local, regional and international manufacturing facilities to meet the housing requirements, catering and food services for various strategic projects, especially those initiatives emanating from the ambitious vision of the Kingdom of Saudi Arabia 2030.