Dubai—Saudi Aramco has signed a joint venture agreement with prospective international and local partners to create what it expects to be largest maritime yard on the Persian Gulf in order to cater to its offshore drilling and shipping activities, the company said Wednesday. Aramco said the proposed $5.2 billion Jubail facility would enable it and its supply chain partners to meet their manufacturing, maintenance, repair and overhaul requirements for offshore oil and natural gas rigs, and offshore support and commercial vessels, including Very Large Crude Carriers.
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