FINANCIAL NEWS

Offshore projects contribute 44% to Bahraini AOS 2012’s revenues

18 Feb 2013

(MENAFN) Asry Offshore Services (AOS) general manager, Andy Shaw, announced that nearly 44 percent of the company’s 2012 revenues were generated from its offshore operations, reported Gulf Daily News.

Shaw said that the share is the biggest since the company, the offshore unit of Arab Shipbuilding & Repair Yard (Asry), started operations 5 years ago.

He added that at the current time, AOS is focusing on consolidation, noting that it’s more significant for the firm to provide top quality services than quantity.

The company has been investigating in the construction of rigs as it received a number of enquiries from clients, stressing that Asry is researching lift-boat size rigs and land rigs, rather than drilling rigs.

It is worth noting that for Asry, Saudi Arabia remains a chief market, due to the Kingdom’s lucrative land rig business.

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