SGS inks SAR 553 mln contracts to implement general survey projects

The Saudi Geological Survey (SGS) signed today, Oct. 18, 2020, four contracts worth SAR 553 million with international experts and consultants under the first phase of the projects pertaining to the geological survey general program.

The following are the details of the contracts:

1) Awarding the technical partner contract at a total value of SAR 185 million to a consortium including International Geoscience Services Co. (IGS) and Geological Survey of Finland (GTK), in order to implement the general program.

The six-year term contract is aimed at supporting the survey program team and ensuring the quality of outputs for the survey projects.

2) Awarding the multi-component geochemical survey contract at a total value of SAR 201 million of the Arabian Shield province to China Geological Survey (CGS).

The six-year term contract is aimed at collecting and analyzing more than 110,000 samples of valley sediments and heavy metals in the Arabian Shield.

3) Awarding the advanced aerial geophysical survey contract for Section no. 1 of the Arabian Shield to Sander Geophysics Ltd. (SGL). The contracts of Sections 2 and 3 were awarded to Xcalibur Airborne Geophysics at a total value of SAR 167 million.

The three-year term contract is aimed at collecting and analyzing geophysical data, producing various digital geophysical maps, and identifying rock formations and evidence of mineralization in the region.

The above contracts were signed under the auspices of the Minister of Industry and Mineral Resources, Bandar bin Ibrahim Alkhorayef.

In his speech, Al-Khorayef said: “With the launch of the general program of geological survey in the Arabian Shield, we aspire to achieve what the mining strategy aims to by laying a solid base for a new and bigger start in the mining sector development field with the aim of enabling industries that depend on minerals as a raw material.”

The program aims to create a database of geological and mineral information, study and determine the presence and distribution of wealth across the west of the Kingdom.

Additionally, it targets facilitating knowledge of promising investment opportunities for local and international investors in the mining sector and forming a basic reference for the sector’s industrial investors.

At present, the program aims to survey nearly 600,000 square kilometers of the mineral-rich Arabian Shield region.