Saudi Arabia has unveiled more details about The Rig, an oil rig-inspired mega entertainment project.
It will be built off the country's eastern coast, about 40km from the shore, near Al Juraid Island and the Berri oilfield. It will span 30 hectares, double what was originally announced in October 2021.
The offshore tourism project, funded by Saudi Arabia's Public Investment Fund, grabbed headlines for its unique theme. Inspired by offshore oil platforms, it is meant to “celebrate the legacy and heritage of Saudi Arabia's long oil and gas history”.
There will be three hotels at The Rig, with a total room count of 800, alongside 11 restaurants, a marina and helipads as well as an extreme sports and adventure park. It will also feature a variety of water activities, a diving centre, an esports centre, as well as a theatre and a multipurpose arena.
The project is being developed by the Oil Park Development Company.
No opening date has been announced yet but once operational, developers are expecting to attract more than 900,000 annual visitors by 2032.
A 2022 report published by energy-focused publication Upstream said the project is expected to cost about $5 billion.
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Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
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