Red Sea signs SAR 73.1 mln contract with Schlumberger

05/01/2022 Argaam

Logo of Red Sea International Co.

Red Sea International Co. (RSI) announced signing, on Jan. 5, a seven-year extension contract worth SAR 73.09 million with Schlumberger Co. to provide facility management services for its specialized modular camps to support Schlumberger's oil drilling operations in the Eastern region. 

 

In a bourse statement, the company said the facility management services primarily include catering, laundry, and power generation.

 

There are no related parties in the contract, the statement added.

 

The relevant financial impact is represented in realizing revenues and profits as of Q1 2022.

 

The camp consists of various fully furnished modular units that are used as admin offices and accommodations. They are built of high-quality components to sustain the harsh weather conditions and continuous mobilizations to the different drilling locations.

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