Dear Readers,

As we reflect on the final quarter of 2024, I am pleased to share updates on the significant achievements and progress made across our operations during that period.

In our offshore wind division, early works on the RWE Norfolk Vanguard project have set a solid foundation for what promises to be a benchmark project in our portfolio. Our oil & gas division has seen several accomplishments, with two of the five EPCI projects at our Hamriyah facility reaching completion.

To align with our owner’s vision for growth and expansion, we are excited to announce the upcoming opening of our new project execution and business support office in Chennai. I am personally looking forward to hosting the official opening ceremony soon.

Additionally, we are eager to collaborate more closely with our sister company, Algihaz Marine Contractors (AMC), who have recently secured a long-term agreement to charter a vessel. Plans are underway for further expansions to their fleet. AMC plays a crucial role as one of our T&I partners, enhancing our service offerings to clients across the board.

This edition also highlights our continuous commitment to sustainability. We have successfully launched several initiatives, including a clothes recycling programme in KSA in collaboration with Aramco.

In Q4, we celebrated the recognitions and accolades we received, such as the joint ‘Rig Builder of the Year’ award with IMI, which acknowledges our excellence in rig construction. In addition, our people have actively engaged in various initiatives this quarter, from health and wellness programmes to cultural celebrations, demonstrating their commitment to personal well-being and community involvement.