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Speedcast Expands Presence in Saudi Arabia New licenses, facilities and staff bring advanced connectivity to meet energy demands in region Riyadh, Saudi Arabia — May 16, 2023 — Speedcast, a leading communications and IT services provider, announced today that it has significantly expanded its presence in the Kingdom of Saudi Arabia, as major changes to the energy market expand opportunities for producers in the Middle East. Speedcast has long delivered communications services to customers through in-country partners. With requirements in Saudi Arabia and across the region increasing exponentially, Speedcast has made significant progress in this important market by securing its Internet Service Provider license from the CST. The company now intends to supplement this with additional licenses and permits, which will enable the operations and provisioning of services inside the Kingdom. Speedcast’s new in-country teleport facility, which will include office and warehouse space, is under construction to host an iDirect hub, and the company is staffing up management and field services personnel to provide installation, operations and maintenance country-wide. “Being licensed to deliver service in Saudi Arabia will add significant strength and flexibility to our efforts and allow us to serve our customers more effectively, ” said Joe Spytek, CEO at Speedcast. “This milestone sets the stage for our expansion plans across the region to further meet demands with the rise in activity. This includes expanding our presence in key Middle East markets while investing in people and platforms locally to serve our valued customers there.” Saudi Arabia is one of the world’s fastest-growing economies, driven by recent pro-business reforms and a rise in oil prices. The country is currently the world’s second leading oil producer and a top 10 producer of natural gas. Last year, Saudi Arabia’s public petroleum and natural gas company announced plans to double the number of drilling units offshore and on land by 2024. For more on Speedcast’s communications services for the oil and gas sector, visit www.speedcast.com. |
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