Khobar, Saudi Arabia, December 7, 2023 - Front End Limited Company, a Saudi-owned company that provides advanced products and solutions to the energy and industrial and maritime and logistics sectors, and UTEC Survey Asia Pte Ltd, a Geo-services brand in Acteon Group Ltd's Data and Robotics division, have announced the signing of a partnership agreement.
The agreement aligns with the objectives of Saudi Vision 2030's National Industrial Development and Logistics Program (NIDLP), which seeks to transform the Kingdom into a prominent industrial force and a central hub for global logistics, which represents a notable advancement in the evolution of the offshore energy industry in the region.
Majid Alghaslan, Chairman and CEO, Front End Limited Company commented, "This partnership with UTEC through Acteon, represents our commitment to utilizing the highest caliber of advanced technology to compliment and feed the transformative shift taking place in the Kingdom's offshore energy sector. It is not difficult to identify opportunities in spaces where growth on all fronts is exponential, like in Saudi Arabia. The key is to find the right partners with whom you share the same values of quality and experience and deliver the most reliable and innovative solutions. We are excited about this strategic agreement while we expand our portfolio as the Kingdom embarks on an ambitious economic diversification plan as part of Vision 2030."
Sudhir Pai, Executive Vice President, Data and Robotics Division, Acteon said, "Today marks a significant milestone as we proudly announce the strategic partnership between UTEC and Front End, a distinguished energy addition organisation based in Saudi Arabia. As UTEC and Front End join forces, we anticipate numerous opportunities, with plans to welcome technologies and services to the partnership from other Acteon companies.
This forward-looking strategy aims to expand both parties' influence, creating a resilient ecosystem for sustained growth in the energy addition sector. The collaboration strategically combines our strengths but also reaffirms UTEC's cutting-edge advancements in geoscience technology and development in the Kingdom of Saudi Arabia".
