IMI and GustoMSC Naming Ceremony: IMI-2030

ABU DHABI,UAE,Nov. 15,2019 -- International Maritime Industries (IMI) announced today it had officially named the new GustoMSC designed jack-up drilling rig the "IMI-2030". This comes just over a month since IMI signed a License Agreement with GustoMSC,an NOV company.

IMI and GustoMSC Naming Ceremony: IMI-2030

Commenting on the naming ceremony,Fathi K Al Saleem,CEO of IMI,said: "The naming of this jack-up drilling rig is a major step for IMI. The utlisation of "2030" in the name was important to the management team as it was inspired by the Kingdom's 2030 Vision. IMI and the King Salman Complex is one of the major projects forming part of this wider strategy."

Nils van Nood,Managing Director of GustoMSC,adds: "Contributing to the Saudi Vision 2030 is a great opportunity for us to serve key clients in Saudi Arabia and the region. Given how important the Saudi Vision 2030 is to IMI and to GustoMSC,the name was highly appropriate. We are proud of this partnership and look forward working together during the basic & detailed design phases and beyond."

GustoMSC will tailor one of its well established CJ-series of drilling jack-ups while focussing on IMI's modern manufacturing capabilities. It is estimated that this combination will reduce the construction time significantly.

GustoMSC acts as independent rig design company,enabling IMI and its clients to have an open approach to all major vendors that want to become part of the upcoming construction program. About one year ago ARO Drilling announced plans to order at least 20 drilling jack-ups for construction at IMI. It is anticipated that initial rig ordering will get finalized in the second half of 2020.

About IMI

International Maritime Industries,located in The King Salman Complex for International Maritime Industries & Services at Ras Al-Khair,Saudi Arabia,will be the largest,full service maritime facility in MENA. When building is complete,the annual capacity of the facility will be four (4) new build offshore rigs and over 43 new build vessels including VLCCs,in addition to servicing more than 260 maritime products. The first phase of production operations is expected to commence toward the end of 2020 with the facility reaching its full production capacity by 2022. International Maritime Industries is a joint venture between Saudi Aramco,Lamprell,Bahri and Hyundai Heavy Industries.

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www.IMI-KSA.com