Aker Kvaerner Expands Presence In Saudi Arabia
Aker Kvaerner is to build on its presence in Saudi Arabia through the consolidation of the activities of its two in-Kingdom organisations, John Brown SA Ltd and Saudi Davy Company Ltd, into a new business, AK Gulf. AK Gulf is a subsidiary of AK Process, one of Aker Kvaerner's core businesses serving the refining, chemicals and onshore oil and gas industries.
Aker Kvaerner has been active for several decades in Saudi Arabia. The present restructuring and renaming of its in-Kingdom operations reflect the company's ongoing commitment to the region. AK Process, together with its new joint venture partner, Saudi Pan Gulf, will intensify its business development effort and further increase its presence in the region.
AK Process has a significant involvement in-Kingdom through the Butanediol project that is being executed for GACIC (Gulf Advanced Chemical Industries Company), a SIPCHEM (Saudi International Petrochemical Company) affiliate. This 75,000 tonnes per annum facility is currently in the advanced stages of construction at Al Jubail, with two million field man-hours worked without a lost time incident. Plant start-up is scheduled for fourth quarter, 2005.
AK Gulf is operating with immediate effect.
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Added to site on 02/12/04