Saldanha Bay Industrial Development Zone Welcomes Oil Rig

Alan Winde, Minister of Finance, Economic Development and Tourism, welcomed the Sedco 700, which arrived in the Saldanha Bay harbour two weeks ago.

The 90-metre semi-submersible drilling unit is in the port for service repairs including a life boat upgrade, steelwork, accommodation work and UWILD (underwater in lieu of dry-docking) inspection.

It is expected to stay in the harbour for around two-and-a-half months.

The Sedco 700, which belongs to the Nigerian branch of a multi-national oil company, is one of four major oil rigs to be serviced at Western Cape harbours between October and December. Combined, this activity is expected to create 8 000 jobs.

“This illustrates the economic impact of the oil and gas vessel repair industry, and specifically the importance of the newly-designated Saldanha Bay Industrial Development Zone which is expected to increase our vessel repair capacity drastically. The feasibility study has shown that the IDZ has the potential to create 15 000 sustainable jobs over the next 10 years and generate R10 billion for the region’s economy over the longer term. At this very early stage interest from foreign investors is already promising,” said Minister Winde.